Ari, how many coats of tung oil are you using? It's all I've used for the last 5 years or so, and I find it holds up surprisingly well. Found some arrows that had been lost for months, laying in damp ground, and they were still in good shape (other than the fletching).
If I'm in a hurry to shoot a new arrow or two, I just go for two coats. Normally, at least 3 (which is really plenty) or sometimes 4 - which is about where it starts looking kind of glossy.
One main reason I started using it is that it adds hardly any weight at all to the shafts, which is helpful with my arrows.