Modern "boiled" linseed oil just has a drying substance added to it. I believe it is manganese based. It is not boiled.
I've been making "period type" boiled linseed oil varnish. I don't really do just the oil, because I would have no real use for it, especially when it is easy to drop in some resins and make varnish out of it.
I have some "varnish makers oil" from Wood Finishing Enterprises, which is a nice, clean grade of cold pressed linseed oil. Whether or not this is any better in a practical sense, I don't know, but why not get the best, since it isn't very expensive.
I boil the oil in an electric deep fryer, so there is no open flame, no open element for oil to drip on and catch fire. What you need is just a low, rolling boil. It does not have to be really gurgling. I add a little bit of lead carbonate (lead white, it is a historical white pigment, and was used as a dryer) and let it boil for a while before adding my resins.
By the way, you can add turpentine to the oil while it's boiling, which is supposed to help the turpentine react with the oil and it will dry faster, but I STRONGLY recommend against it! DO NOT add turpentine to the oil while you are heating it. Turpentine has a low flash point, and when it flashes....look out. Really bad news, believe me.
At some point, between 30 minutes and an hour and a half, the oil will get VERY thick (after it cools, that is). If I boil it for a half an hour, it will still remain the familiar smooth consistency, but if I boil it for over an hour or so, it will be exceptionally thick, and when I turn the heat off, I have to let the stuff cool a bit (but still rather warm so it will be fluid), add some turpentine or aged turpentine and then pour it into my glass jars (if it is too hot it will break the jar, if it is too cold, it will be so stiff, it won't pour!). The longer you boil it, the faster it will dry. If you only boil it for a half an hour, it will dry much more slowly than if you boil it longer. I think basically what you are doing when you boil it is "pre-drying" the oil (they say that you are "pre-polymerizing" it).
Without resins, this is what was called "black oil". The lead carbonate and the boiling turns the oil a dark chestnut color (it also changes the smell too). I add resins to make a varnish. Two resins that are easy to dissolve are rosin and mastic. Rosin is cheap, as it's a byproduct of turpentine production, so it was relatively cheap at the time. Mastic is...not so cheap. I make a "plain brown varnish" that you see period references to. It dries reasonably hard and really welds itself to the wood, and won't flake or scratch off without damaging the wood.
Linseed oil varnish has to be applied in EXCEPTIONALLY THIN coats. Really thin. No, thinner than that. If it is applied too heavily, it will dry on the surface, but it will remain "pressure sensitive" for a VERY long time...believe me, I know. If it is applied very thin, and put into the sun to dry, it will dry relatively quickly. Several hours, but I would leave it out at least a day...better make it two, for each coat, just to make sure (can you tell that this has been a problem for me during my varnish experimentation?)
When I apply the varnish, I get a drop on my finger tip and dunk my fingers into turpentine and mix it up. I end up with more turpentine than varnish, but you have to, when it is this thick.
By the way, you can make your varnish without the driers added, if you want a totally "non toxic" (even edible) finish. It will take longer to dry, but it will dry. You can buy something like this ready made and it is the Tried and True "varnish oil". It is made of linseed oil and rosin. It does work, but I think it is a bit soft, and could stand to have some more resins added in to harden it up some.
I do not think that linseed oil was used much (if ever) as a stock finish 200 years ago. I've sure done oil finishes myself, but I'm trying to wean myself away from them. A typical finish SEEMS to have been a shellac/seedlac/buttonlac/etc. grain filler (a "spit coat"), with the oil varnish only as a top coat. When I see old guns, particularly old guns that are in any kind of shape, I can tell that they were definitely not oil finished. The color is relatively light and the grain is clear. The stocks are not super dark (usually).
Much of "my research" has been done by Eric Kettenburg, to whom I am very thankful, along with some fellow varnish experimenters who have helped me along (I'm still getting things figured out). I've also gained some good bit of information from violin varnish making publications and websites. If it weren't for instrument makers, there would be basically no interest or research into historical varnishes.
It's something that takes practice, experimentation, and lots of patience (the latter I do not have). Once you get everything figured out, it is not that difficult, but it will always be more involved than just slapping on a modern synthetic resin and oil varnish.