Thanks for the comments. As a general answer to some of the questions, the Danish oil, wax finish requires a treatment of re-waxing, every so often. Maybe like treating the neck of an EBMM, once or twice a year, I guess it depends on usage, etc.
I made a mahogany bodied electric guitar with a black walnut neck from scratch and finished it with oil and wax, and the finish seems to be holding up very well after about 1/2 a year.
I find the tone difference with the oil finish very slight and cannot say one way or the other as I think tone is subjective. I will say that EBMM thin polyester finish is great. The oil/wax finish I used on the body, obviously doesn't have the same high gloss as a stock Silo poly finish. Although very nice, it is different and nowhere near as durable as the original polyester finish. It does however feel and look terrific(as does the poly). With proper care, it should last a good long time.
The only reason I chose to refinish the guitar was that I figured I could make it look better than the chipped/dinged up condition it was when I bought it. I don't have anything against a naturally reliced guitar, as long as I am the one who puts the wear to it. I have seen and owned some real (super worn) beauties.
My 1st Ernie Ball Music Man guitar, an '89 Silhouette, has it's share of small dings and wear, that I have given it through lots of playing and gigs. I personally am not into the brand new "worn" guitars that some companies are selling. You and your guitar should earn those wear marks. But that is just my own preference and choice (and it is great to have choices).
If anyone decides to refinish a guitar, I would be happy to answer any questions. There are lots of routes to take in refinishing.
One general rule is safety first. Know your tools and your products (MSDS -Material Safety Data Sheets are good to read and understand!)
Fwiw, my experience with Watco, especially with heavy or multiple coats, is that areas of wear just get glossier over time. I love Watco finishes. I've also used Tru-Oil on walnut gunstocks with beautiful and long lasting results, where the finish just got deeper and richer looking through the years.
With MM necks, two factors that are different than with, say, walnut gunstocks, are: the hardness and non porousness of maple, and the fast Tru Oil treatment method of put it on, wipe it off. So, naturally that treatment doesn't last forever. But it does leave the neck feeling like organic wood, which is what wins so many of us over to Music Man.
Personally, if at some point I decide to strip a Silo Special, I'll finish it only lightly, knowing that the alder will absorb more than a maple neck will, and knowing it will wear thin and get a little funky looking. The reason I'd strip it would be to free it of the heavy poly, so I wouldn't want to replace one heavy coat with another. These oils (like Watco and Tru-Oil) do harden/cure in wood. But how much that would actually effect tone? Who the *bleep* knows?
Then there's the matter of finding unwelcome surprises under the paint . Meen's original finish was nice and transparent so that risk wasn't present. Beautiful job.