Late to the party here, but...
I use "pure" tung oil for furniture projects (bookshelves, etc.). What I use is billed as 100% pure (brand name "Hope's"). The first coat, if not thinned, takes a couple/three weeks to dry enough for a second to be applied. After that, subsequent coats dry more quickly, but it's still not a speedy process. And, if the weather is cool, everything goes much more slowly.
If one thins the first coat with mineral spirits, the process is a bit faster, at least for the first coat.
That said, I like the finish I get from tung oil. I have a pair of speaker cabinets I built in the late '70s and finished with tung oil that still look great. The finish is almost bullet proof; water can puddle up and sit on it for hours (more than once overnight...) with zero effect.
The finish on my newer bookshelves seems hard enough and looks great (cherry with 4-5 coats of tung oil).
I like using oil since I don't need a really dust-free area to apply the finish. Any dust caught in the finish coat comes right off with 0000 steel wool or just a polish with a cloth.
The only real downside is that you need time. Tung oil finishes don't dry; they "cure" through a process of oxidation, that goes very slowly and is really only fully complete after a year or so. The surface hardens up more quickly, but then the oil that's penetrated the wood doesn't have any exposure to air, so it cures very slowly. If you have time, it's great. If not...
I've used this same tung oil for my Wista DX beater field cameras. They get a lot of use and the original lacquer (or whatever) gets dinged and chipped off down to bare wood. A touch-up with tung oil restores and protects very well and blends in nicely with the original finish. I just wipe it on with bare fingers, let it sit a half-hour or so and then wipe off with a clean cloth.
I, personally, wouldn't hesitate to use tung oil for an entire camera refinish. The advantage would be that maintaining the finish would be very easy; just oil over scratches and dings and voilà.
Best,
Doremus