Just finished building this pipe rack based on a plan I found in an old thread. It wasn't a hard design to build. A few modifications, some native quartersawn red oak, a few coats of oil and here she is. Now I've just got to fill the empty spaces!
I start with one coat of shellac, then I use Minwax polyurethane oil(3-4 coats). I used to mix my own for my students using two parts tung oil and one part poly, but the Minwax is just more convenient.