Wow, guess I missed all the excitement.
To an amateur, I may seem like an accomplished woodworker. To the latter, I may seem like an amateur. All I can say is that I have more kinds of wood, and stains, waxes, oils, finishes, woodworking tools, what have you, than I can shake a fist at.
A few points I can make are:
I would not use shellac and BLO on a stock. Ever. Don't know if it is technically a varnish or not and don't care.
Tate's stock looks very nice, but I have the Watco stuff here and I'd not use it on a stock. If I did, I would worry about sealing it somehow, and keeping it sealed. I don't feel it is that durable or that it penetrates that well. I don't do glossy finishes of any type and never will.
Carry on....
A piece of advice... you should ALWAYS make the finish glossy and then rub it down to a sheen you can live with, or love. Glossy finishes are both more durable and more waterproof.