John K Jordan
I have used lacquer a time or two. Do you find it holds up well to handling and getting knocked around a bit?
BTW, I forgot to mention: one problem with a glossy finish on jet black ebony - it looks like plastic! I had several people (non-turners) ask me where I found the black lids I made for the threaded boxes. And one ebony magic wand looked very much like plastic until I cut it back to semi-matte. That's one reason I like to use black and white ebony and blackwood or some with brown streaks.
For small things like finger tops and magic wands sometimes use Myland's friction polish (shellac).
I've also used TruOil a couple of times which seems durable - I understand it is actually a varnish rather than an oil.
One of these is TruOil on ebony: