Black Walnut Finish suggestions

How would Waterlox Original work on black walnut? Seems it would be a compromise of the durability and water resitive properites of shellac and the richness of tung oil...
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Waterlox is an excellent choice for Walnut (and most other species as well). I'm a recent convert to Waterlox and I have to admit it is the best oil type product I have used yet (I used to mix my own). As far as water resistance, it holds up just fine. Now I wouldn't go so far as to use it for outdoor pieces but for most indoor stuff it is the cat's meow. SH - Or the dog's bark.
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