I agree with the consensus but will toss out two other suggestions.
One is Tung oil. If you search the rec.woodworking archives at
Google over the past year or so you will find a thread started by
a fellow trying to remove _improperly_
applied tung oil from his
new hardwood floors. The discussion convinced me that it is possible
to finish a floor well with pure tung oil but did not convince me to
try it. ;-) The major drawback is that one must apply it several
times over several days and not walk on it in the interim.
Difficult enough for me by myself but I also have two cats and
The other is shellac. I have tried shellac in some high traffic areas
of a badly abuse red oak floor. I had been scraping, sanding, and
bleaching out stained areas and then slapping shellac on it to
cover at least as an easily removed temporary coating. In my
case, it looked fine but didn't last long. But I was using
premixed and might have had better results mixing my own. Since
my personal experience was poor the only reason I present it
for consideration is that it was used for a hardwood floor in
at least one _This Old House_
My current plans for the floor are to give it a quick coat or
two of 1-2 lb orange shellac for color and then cover that with
water-based polyurethane. I like the results on my test samples.
I really wish the floor was white oak.