I know it is the traditional wookworking tool finish, but I cannot stand the smell of linseed oil. I do not care for mineral spirits smell either. Doing a hundred soil samples at a mineral spirits contaminated site will do that. I guess that is why I do not like diesel fuel smell either (thousands of samples).
For just about any wood, I use warm water and Murphy's oil soap to clean. I use one rag with the soap and water mixture, and then another to rub any excess water off (and usually get a good bit of dirt on the seocnd rag) Let it dry, and then finish with tung oil. I like this method because I clean a large quantity of tools, and it is quick and easy. If you are just doing a few tools, playing around with formulas like Scott's friend's one can yield better results.