Finishing Chestnut Doors

I have thre old doors in my basement from which I'm stripping several layers of old paint. Turns out they're chestnut.
I'd like to hear opinions on how I can finish these. I've had some good results on some mahogany furniture, using Minwax stans and polyurethane. And I'd thought that the doors would need a poly finish, since the bottom of at least one has a bit of water damage. BUT, I've been seeing references to finishing chestnut with tung oil, and I have a pint of Formby's which I ought to use sooner or later. But I'm concerned about how well it can protect the wood.
So... any ideas? Any recommendations for a finish which won't disclor the chestnut, but which keeps its vibrancy, and a coatin which will protect it adequately?
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