A boiled linseed or Tung oil that is non harding is good for all wood bows. If I get a bow that has just been sitting around a long while, I oil it and use a 'test' string that I tie on only about 2" shorter than the nock to nock lehngth. I then work it out slowly, gradually pulling farther every few pulls. If I can get it worked out to full draw without creaking or cracking, I will try try a proper size string. I make a lot of 'universal' strings that are single loop. You use the bowyers knot or timber hitch at the lower limb to set your string height.
If the bow will work out at full string height, you should be all right. Remember that an all wood bow will not like the shock of going out in the cold, so limber it up slowly after stringing outside on a cold day. Old dry hickory is prone to 'blowing up' in cold weather. I pretty much stick to osage anymore if the weather is cold. I have some hickory and other wood bows that are great 'fair weather friends'