"French polish is linseed oil and shellac, hand rubbed into the bow wood."
True, but to avoid confusion for those that haven't done it, the oil is used as a lubricant on the pad, to help application rather than as a necessary part of the mixture. I personally don't bother with oil when french polishing. I knock down any runs, or spot build up between coats by wiping with alcohol, and or steel wool between coats.
Boiled linseed oil as a finish is OK, but it still takes longer to dry than other finishing oils which have more driers, like tung, or Danish oil. Quicker drying allows a quicker build up of layers, for a rich finish.