Think the question is well answered but still thought to chime in. I will be stoned for saying it but I DO like my pipes with a luster on them. But look at the lil round pocket pipe I posted in the "post your pipes you made" thread.
That lil guy just got sanded with 220, then 400, 800, 1200, then 2500. No finish on him at all. Just wiped with a tshirt cotton rag. He's as nude as they get.