Having read some of the posts about the subject line I thought I would toss out my experience. Most of what I make gets a generous coat of Watco Danish oil after sanding to 320. After allowing as much as will soak in I wipe as dry as I can. Allowing overnight drying I then apply a coat of Minwax quick drying poly, either gloss, semi-gloss or (my preference) satin. Sometimes one coat will do. More often, two or three coats. (especially with gloss). Most often I spray but I have used a brush when the weather absolutely prevented my spraying outside. (Not often in El Paso) Unless I use a water based poly (which I use on drawers) I very rarely have a problem with "nibs" or raised grain. And I never fail to use a tack cloth. (I make my own from old, 100% cotton T-shirts) I use that process on the majority of my projects. On the rest I follow "Nailshooters" directions.
Max