I thought I'd post some comparison pictures of the various stages of finish. The completed product involves walnut sanded with 120,180, and 320 grit paper, then given two coats of watco cherry danish oil and two coats of mylands wax. I absolutely love these two products. So easy to apply and each one adds a magical quality to the wood. The wax, especially is glorious stuff. It smells good (in a "I know I shouldn't sniff that" way) and it adds an amazing glow to the wood, evening out the various tones. I described it on my last project here.
Here is a comparison of the stages of finish. You see natural wood on the right, then just danish oil in the middle, with the wax added on the left.
I fear the photography doesn't do the wax justice. Any wax adds a pleasant sheen, which is partially captured here. Just the oil coat is a nice enough color but looks "flat." Mylands wax is tinted, though, and it adds a pleasing orange color that somehow makes the wood look like its glowing. It's fun to add a product to the TOP of wood and have the effect look like some internal properties of the wood has changed.
Here's a simple before/after shot of bare wood next to oil and wax