Depends on use...
John in NM
There are just no simple answers when you ask this bunch! 
I made a bunch of cutting boards and salad utensils one year and gave them as Christmas gifts, cheapskate that I am. Very few ever got used, because everyone said they were too pretty to mark up or throw a dead fish on. In such a case, Waterlox makes and excellent finish, as it is trivially easy to get it looking perfect once you have the hang of it, and wear is not a concern (it does not wear well IMHO).
For my own use I have some Tried and True BLO+wax. Bought a little can when it was being hyped by FWW about 10 years ago. Works great for me, since in my arid climate oils cure nicely. But it wears off quickly under everyday use. And here's the important point - every finish will wear off quickly under everyday use. For that reason, I'd go with the mineral oil/wax that Sam suggested. Its easy to re-apply, and cheap to make a bunch you can put in little bottles to go with the boards you sell or give away. You could do the same with BLO+wax if cost is not a consideration.
Also, one of our everyday cutting boards is a piece of cherry that got the BLO+wax years ago. Never maintained it, its all hacked up, finish worn off, and gets daily washing. It's not cracked, rotted, checked, or whatever else is supposed to happen (maybe because the end grain is still finished, seeing no wear). So the point is, this is a board to keep your knife from getting dull, it will do that regardless of the finish on it (or worn off it in this case) 