bobski
Have tested many finish programs such as you suggest and in addition to being a good way to expose yourself to a bunch of nasty chemicals the finish is far from waterproof and well behind any number of other finishes. Not that it will not make a perfectly satisfactory finish, just that many are far better from the waterproofing aspect.

Surprisingly, finishes like this do not add as much weight to the stock (once the naptha is well-dried) as many would think. The wood acts as a filter and prevents the finish from going very deep... Only the naptha really soaks in.
art

A naptha MSDS for those considering such a venture...
http://ptcl.chem.ox.ac.uk/MSDS/NA/naphtha.html


Mark Begich, Joaquin Jackson, and Heller resistance... Three huge reasons to worry about the NRA.