Personally, I would go to the local paint store, not the big box, and have them mix up some colored polyurethane. My experience with pine (unless you stain it all really dark) is that all the imperfections, the tear out and tiny little cracks really soak up the stain and make the surface look cheap.
I would take a piece of the same pine or as similar as I could find and experiment on that first. You might try conditioning the wood with a wash coat of shellac, or a colored wash coat of shellac to partially seal the grain first.
The guys that manufacture flooring though, all use colored finishes to make sure they keep the color/appearance/finish consistent.
Robert