Two negatives come to mind when I think of poly...softness and poor re-touchability. Clearly, it was superior to penetrating oils for water resistance.

If I were to depart from "hand rubbed oil" finishes, it would be to embrace spray lacquers.

Admitedly, it's been many years since I abandoned it for those reasons. The softness was no doubt a feature of the particular brand I used, but I'd be interested to hear if people have had good re-touching experiences with it in recent formulations.