Timely subject indeed, as I am "freshening up" a couple paddles now. Am watching all this with the greatest interest...

But so far, gotta say I'm with Rob on this one. I tried oiling a paddle once and disliked the result so much I never even considered trying it again. After making a several paddles I have settled into a laminated blank that I really like, which is detailed here:

http://ngc704.home.comcast.net/~ngc704/GreenlandPaddle/

I paint a finished paddle with epoxy, let cure, sand smooth. Maybe again, if it really soaked it up something fierce. Then apply another coat, but this time try like hell to wipe it all back off with a good quality rag (clean, doesn't shed a ton of lint, etc.) right quick. Done. For refinishing or after repairs, one paint-on-wipe-off application of epoxy. This seems to do it for me. Good looks and hardened, grippy finish.

I tried a regular epoxy-and-varnish finish once, but the result was so slippery-when-wet that I quickly broke out the sandpaper and reverted back to the above. Rob??