I find that tung oil lasts longer than linseed oil and holds up better to moisture. It's what I use on all my wood handles: knives, axes, etc.
Well, the probloem is that many products out there labeled "Tung Oil" are really thinned out oil/varnish blends, not tung oil at all. The exact recipe isn't that important, but it's varnish, oil and some kind of thinner. It works well and the more applications you put on, the thicker the finish and possibly the more protection you'll get.
Pure Tung Oil can be found but it's more expensive and doesn't work exactly the same.
Linseed oil is also a misleading term. Pure linseed oil never fully dries and does practically nothing to protect wood. Boiled linseed oil has metallic driers in it that will cure and harden and works much better. There are also wiping varnishes labeled as oils that use linseed oil. Tru-Oil is one of them and it really works great from my experience.
The finishing industry is to blame for the misleading information. They aren't forced to be clear with their recipes and it causes problems for the end user. If someone recommends tung oil because they used a tung oil wiping varnish with success and another person uses pure tung oil, they might be really pissed off.
If you can, please list the actual products.
I've used Tru-Oil, Formby's Tung Oil "finish" and Waterlox with great success on lots of projects. If you want it shiny, add more coats. If you want it more satin or matte, hit it with a scotch pad or steel wool.