I've been maintaining/replacing/replicating trad joinery for nearly 40 years.
I've been using linseed oil paints for about14 years now and they are excellent. Only tried the one brand
Allback.
The big difference is that normal modern paints although tough and long lasting but tend to fail by cracking and letting water in. The result can be peeling off patches or in the worst cases completely waterlogged and rotten wood behind a painted surface which still looks ok from a distance. In the past I've had some embarrassing issues with my own stuff failing but make a point of always blaming the painter!
Linseed paints on the other hand fail but from the surface, not from behind. The result is that even when the paint is almost weathered away completely, the wood behind may still be in good condition. Never needs burning off - painting in perpetuity just means cleaning down and adding a coat every 5 to 10 years. Can be revived with oil alone.
Also linseed is very easy to apply and seems to stick to anything - metal work, over rust etc. It even sticks well to modern paints and can save failed paintwork from further deterioration.
Slow drying - warm weather helps, but will dry in cold weather slowly. Raw linseed oil as primer.
Self igniting rags - does happen but rarely, if loosely bundled in a dry place on a warm day etc.
Never seen it myself except on youtube!
Nevertheless precautions have to be taken - basically keep them in a jam-jar with the lid on, or enclosed space, poly bag, needs oxygen to oxidise. etc. Can't keep them for long anyway as they still carry on drying, but handy while the job is going on.
It's good stuff and I won't be using anything else for external doors and windows. But it's never as shiny or colourful as modern paint.
It's also very cheap in spite of the price per tin - it goes a long way, needs no undercoat or primer, needs no brush cleaner, very long shelf life etc.
PS mould - yes can occur sometimes (like fine soot on the surface) but gets washed off in the normal window cleaning process. You might also have to wash down external doors occasionally - nothing too difficult just a sponge and soapy water. Polish the brass while you are at it!