I've used various types of oil over the years and have always come back to linseed oil for certain jobs. Of course it's not as durable as more modern oils which, as others have pointed out, often incorporate varnishes. But it has its place when you want a subtle, almost flat finish.
And here's the interesting point - I use raw linseed oil, not BLO. I cut the first coat with about one third pure turps and then give two more coats. You flood the surface to begin with and then rub off the excess really well and get rid of the rags very carefully. I've never had to wait longer than overnight to apply the next coat. Excessive drying time has never been a problem for me.
Linseed oil, either raw or boiled, is extremely cheap - why not treat yourself to a bottle and conduct a few experiments on samples of wood that you intend to use? It definitely seems to suit some woods (e.g. oak and beech) more than others.
Kind regards.