Yes and it's used by many. See the article link near the bottom of the home page or try this link to a recent article by Don Ward (its_virgil). http://www.pens-pens.com/Issue8.pdf (see page 10)
Jim,
In a word, YES!!!!!! Take a look at my Curly Koa in the "Show Off" section. I used the method that Don Ward wrote up in the link that Lou mentions above. I made two minor changes due to the availablity of Watco and TSW for me right now. I used TungOil instead of Watco and Turtle Wax (yes for the car [] ) instead of HUT plastic polish & TSW ('cause I don't have them yet) and the process came out WAY above anything I have done before.[8D][8D]