Daaaammm, it looks great!
 
Wood and olive oil works great. I clean my Series I from head to base, with a dry cloth (Lams wool) and then added a dab of olive oil, and rubbed lightly, and it looks great. The shine on the fret ebony wood shines too.  
 
I never thought of using olive oil would work so well, but it does a great job. If someone posted this discovery or other methods, please share.

Paul TBO mentions using it, on one of the earlier oil threads.

Is there any issue with odor down the road from use of olive oil?  Maybe the use of such a small amount makes it okay.

You mean the ah-roma (I wish it did... I love the smell of Olive Oil), I can't detect any smells.  
 
However, if you consider olive oil an odor then I would simply fray this idea. But interms of shine, and care...BAM! I win doubles.

Fresh olive oil smells fine.  Olive oil that's been sitting out exposed to light and air for a few months is a lot less appealing, though.  I would still be afraid to do this to one of my instruments until I heard a positive response from Alembic, or at least a long-term report.

I've heard if you add some anchovy paste and raw egg it can be used to shine up the brass.  I think they used this formula on the May, 2004, COTM, the Roman Conqueror
 
Bill, tgo

Worcestershire sauce, maybe?

I used to use canola oil on my first bass, an Ibanez with a rosewood fingerboard.  I don't recall it smelling, and it seemed to actually mellow the tone a bit.

Putting pure essential peach oil on the fretboard will give you more of that Allman Brothers sound.  I've even heard that the really grungy sound of the MC5 can be attained by adding just a little pure essential motor oil.

I understand Barry White's bass player used KY jelly.  And if you play for Barry Manilow, you're required to use pure pepsi syrup.
 
Bill tgo

I use hash oil on all my basses to get that pyschadelic groove going.

Hash oil!  What a great idea!  Hmmm ... do they carry that at the health food store??

They do in California!
 
Bill, tgo

From Olive oil to hash oil?
 
You guys have way too much time on your hands...
 

Great thread.