That's all I use and I *love* it... I apply it with the lathe running, squirt some on a soft cloth (currently a bit of old shirt) run it up and down the length of the tubes, another squirt, another run, repeat 4-6 times, then polish with some old soft dish towel to a high sheen. For my high-end pens, I wait a few days and apply TSW, then buff!
A fellow pen turner I met in Maine makes his own french polish using 4 parts shellac and 1 part BLO (boiled linseed oil).