Heya,
So I use minwax wipe on poly pretty religiously, mostly because it's easy to obtain but it is also pretty easy/ forgiving to work with. The poly label from I understand is a bit of a misnomer being that it is actually a sort of oil polymer blend much like tru-oil and the like.
It has been quite a few years since I've used tru-oil but I think to compare wipe on poly with it wouldn't be too far of a stretch.
You can get it in gloss simi flat variants however I always go gloss as it's easy enough to flatten a finish with sandpaper and having the gloss leaves me with more versatility.
Another thing to consider is the yellowing factor, both wipe on poly and tru-oil are gonna do that (maybe a little more with the tru-oil if I remember)
You'll have to do some homework on that as I can't tell ya off the top of my head what's out there that won't yellow but I do believe there is some wipe on products that cure more if not totally transparent (I've read about it I just can't remember where)
As far as applying wipe on poly I kind of go about it in two ways. If I want a more satin natural feel I generally go pretty light with it, wiping it on into the grain and wiping off the excess as I go so it produces a pretty light finish that may even seem raw to some. Depending on the wood, it's grain and just kind of feeling it out as I go will usually determine the number of coats.
The second way I go with (gloss) is to apply it heavy. A brush or better still a foam brush works well. I'll apply a heavy coat, let it dry, sand till it's as flat as I can get it without sanding through, and then repeat until I can get it all flat and buffable. I will say I've only done this one in small areas, fingerboards, repaired areas and the like as it's pretty time consuming. That said for me if I really want a high gloss on a whole bass or anything big for that matter the best option is to just find a place to do a spay finish as that ends up being a lot less work.
Anyways hopefully that makes some sense and as well definitely do your homework. Youtube is great, somebody here linked this one awhile back that I thought was pretty good (be it I'm still in my bubble using minwax
) but as far as seeing how a handful of oils compare this is a good one.