Hi Jill,
The look you got with the rubbed wet oil is what you should end up with after three coats rubbed in and allowed to dry. I'll bet there was more figure than you expected showing through. Once you've finished your oiling and have let the frame dry for, say 48 hours, you can use whatever you want You can use satin or gloss WOP, Estapol, two coat PU. I have a penchant for using EEE cream followed by Traditional Wax. It will give a beautiful satin finish to the frame. EEE is like a cutting agent and acts a bit like taking your sanding up another grit or two. Beautiful base for the Trad wax!
So here is a pic of some book matched Silky Oak panels in a cabinet, finished with Wattyl Teak (Scandinavian) Oil, EEE cream and Trad wax. You can see the lustre that the wax gives by looking at the top of the cabinet.
Looking forward to seeing the finished product.
Regards,
Rob