WD-40 Is What I Use.
I use WD-40 I have not been doing a lot of woodworking to know
the affects of the WD-40 and finishing, but I think if I wipe the plane down and
take more than one pass with the plane I can really see to much oil being passed
on to the wood...
I did just read on the net some that warms their planes in the oven and uses
paste wax on it warm so it melts in to the plane and hopefully into the pores,
sound like a good idea..
I use Top Coat on saw blades and I guess will work well on planes and other hand
tools but it does leave a white film..
I also use Motor Oil on tools in long term storage..
I started using camellia oil and had several plane stored in front of a AC duct
and had the planes rust several times and each time I buffed the rust off I
applied it heaver each time..
This was over the coarse of maybe a few weeks the rust would start.. I don't
have to much faith in camellia oil any more.. I would use it on wood based
planes on their irons but no longer on metal planes..
I also use 3-In-One High-Performance Penetrate on pitted rust areas I have
lapped smooth, I try to get a puddle to sit on the area and seep in to the
pores..
I have finished a few planes and had lightly pitted areas come back during
delivery after using wax.. I now use the 3-In-One even after Electrolysis as
that doesn't seen to stop the rust action either.. so far the 3-In-One as
worked..
Waxes
Some Folks use Paste wax, like Johnson's or Renaissance Wax, as it helps make the plane slip over wood easier they say..
I have read melting Past Wax on warn metal planes out of the oven also works well, Garrett Hack recommends Boiled Linseed Oil and Paraffin Wax (Candle Wax) melted together for Wooden Planes and with the above method of warming plane in oven should work well.. Garrett says the using just BLO in humid climate will cause the plane to mold..
Sprays
Camellia Oil, Penetrol, Boeshield, Top Coat
All of these work well, I like Top Coat or CRC Table Guard for my hand saws as it leaves a white powdery film. I have read the Penetrol works well well seeps into the pores of the wood and can be found at Paint Store as it is a Paint additive.
Some like Camellia Oil used both for preventing corrosion and for easing chisels and knives through wood. Use a light wipe on all your steel tools to keep them clean & shiny..
You could also use Japanese Tool Oiler (Aburatsubo Tool Oiler)
Japanese craftsmen traditionally kept a small bamboo pot stuffed with cotton wadding within easy reach on their tatami mat work surface. Liberally laced with camellia oil, the wadding served as an automatic oiler for chisels plunged into the pot; a small bit of wadding seized between the fingers sufficed for a quick lubricating wipe on saw blades.