I use straight poly, but don't bother thinning it or dipping them. I get a much better finished product by simply wiping the poly on the shaft with a cloth, straight out of the can. It dries very fast thataway too. It dries so fast that you'd better wipe it once or twice, then hang it up and let it be. If you go back over it too many times, the rag's gonna start sticking to it.
I usually do that twice, steel wool it, and wipe it once more. Done. No tubes, no dripping mess, even coverage....