I guess cleaning wood planes is a one of those topics where every one has an
opinion, well here's what works good for me and what I do.
  Mostly I agree with what Bruce V. said about trying to do the least amount
that you can to a plane.I have a friend that no matter what condition a
plane is when he gets it he strips it, scrubs it, and then sprays a coat of
poly on it.To me this is aproaching crimanality, but he says they're his,[he
never sells anything] and that is the look he likes.I traded off him an
18th.cent. stlye pannel raising plane he had given this treatment to and was
enough to make you sick. Most planes I get don't need to much done, maybe a
light cleaning with a rag or paper towl. I like to use this product called
Simply Green, works good to get dirt or grease off planes very well.often a
plane that looks awfull will come right around after this.I used to use
linseed oil on planes but now I use a very light rub down of tung oil, I
think the tung oil drys a little better and darkens the wood less.Don't
think there is anything wrong with the linseed oil I just like tung oil a
little better.If the plane is very clean already I don't do anything to them
except maybe put a coat of wax on them. I like Brie Wax, easy to apply and
gives a good look I think.If a plane is real dried out I use one of those
antique furniture restorers,[Like Formbys], don't know what is in them but
it is thinner then tung,or linseed oil and the plane will absorb it faster
and come around better , then wax it.For paint splatters I scrape them off
and use a little steel wool to blend the area in then finish them in a coat
of tung oil.Now we are talking about dried out, none significant planes now.
Personally I would never put shellack ,[or Varnish] on a plane as it tends
to make them look to "new" or  refinished looking I think.
     Planes I  keep to go into my collection,[I collect mostly early stuff]
I tend to do nothing too, often I don't even like to clean them up, maybe a
wipe down with a damp rag.I like the look a tool gets after years of use and
storage and often a overly cleaned plane is to "sterile" for my tast. With
planes i sell i will clean them up some if needed to make them presentable
but i figure if the buyer wants to really go to town cleaning them he can,
but if a buyer doesn't want an over cleaned tool he can leave it like they
are. Is better to do less then it is to do to much in  cases like this.I
have seen many more tools ruined by over cleaning and or bad cleaning and
refinishing then I have tools ruined from not cleaning them.This takes in
those people that have to buff anything brass on a plane,and glob on
varnish, or spray on the poly anything that stands still..Some people ideas
on cleaning old tools can be pretty strange just this past week I had a talk
with a fellow that had sprayed all the blades on a bunch of saws black! When
I pointed out that he probably shouldn't have painted them he didn't believe
me as he told me he always sells them better after he restores
them!................................Todd