That's one of those "as many as it takes" answers Johnny. The porosity of the wood and the type of oil varies but it sounds like you are getting there. Now is the time to apply less than you have been and make really sure it's rubbed right off, then let it dry for at least 24 hours, or more if needed, between each application.
If you are really fussy (like me) you will find some places build a finish and others don't. As much as it may break your heart, use some 00000 wire wool (extra fine) or some rottenstone to take off the high spots. The idea being to build the finish all at the same time all over. You don't have to do this, it depends on how anal you might be with getting the perfect finish.
As you say it's taking less time now because you are gradually filling the pores and imperfections revealing a finish. If it goes rippled (orange peely) you have been applying too much oil, so strip it off with the abrasives gently (you're only trying to take off the surface) and continue with a level rubbing surface.
It's up to your taste when to stop. You can leave it satin-like, encase it in glass or somewhere inbetween. The choice is yours.
When you're happy with it, leave it alone for a week to really harden off. If you want more shine, if the finish is thick enough, use just your hand dry (and clean). It's abrasive in it's own right but not like sandpaper. Then maybe soft, lint free, cotton cloth for a final buff.
Next, stand back and check your hair in the reflection. It will be stunning!! :biggrin:
