Im a bit late to the game here, but would share a few tips on using TO.
I work alot with the maples and with the lighter colored woods especially, I dont use steel wool until after the second coat. The oils in steel wool can stain the wood and with open grained woods fill the pores with dirty oil deposits.
The first coat is the most important. I really rub it into the wood and the heat from friction helps it soak into the wood. Rub it in until it stops absorbing and stays 'wet'. Then wipe it off surface and let dry.
I then hit it with worn out 220 grit paper and then polish it up with brown paper bag thats been crumpled and re-crumpled until its like cloth. The fibers in the brown bag cloth are mildly abrasive and burnish nicely.
I then rub in a nice light even second coat of TO (which I consider the first surface coat) and when dry very lightly go over with 0000 steel wool, just enough to remove the sheen and any dust particles. I wipe it real good with a clean cloth to remove any possible oil residue from the steel wool, hit it with a clean brown bag cloth, and apply another coat.
For me, the magic number is seven surface coats after the initial one that was to soak into the grain and then was lightly sanded off the surface.
Try this on some birdseye maple and youll see why. You can see a mile into it. This may all sound a bit "anal", but oh well !! LOL
All the work I put into my bows and knives, I cant see just sloping some finish on just to be done. From prep to finish, if each stage of a project, whatever it might be, is done to the best of ones ability and materials, then we've given all that we have to give and brought out the absolute greatest potential of the incredible materials found in Gods awesome creation. Thats where my connection to my work comes and where I derive my satisfaction from.
Probly preachin to the choir here... but thanks for listenin anyway!!