Interesting to hear you say that 
Mrs has been using it for years, in a 50% mix with turps, on the handles of all her garden tools & loves it. I've used it on a few things as well & goes great, although you do have to re-do it every 12 months or so. 
Pacey uses it as well, & I reckon he gets more humidity up there than even we do down this end! 
i have used gum turps, mixed with raw linseed sometimes, but most of the time, just raw linseed...
if it's an old handle, that hasn't been treated in a long time, i sand back, and use the 50/50 gum turps and linseed mix, with the turps letting it sink right in, then a couple of coats of oil over the top, letting it really dry before adding another coat...
i try and hose off my garden tools after use and let them dry in the sun, before putting back in the shed...
i think sometimes as well, it depends on how old the linseed oil actually is... ?
