Oh, Watco Natural Danish Oil works well also, If you have problems finding Polymerized Linseed;http://www.earthpaint.net/product_Linseed_Oil_Finish.php
IF you are really cutting only .01" deep, then it's imperative that wood be surfaced by your machine, and then sanded to finish grit before carving.
If VCarving TrueType fonts, then maybe go .02-.05" flat depth to avoid losing details.
IF bit is entered accurately as an engraving bit, then a 15-20% stepover gives an excellent pocket finish at the flat depth.
If carving full 30degree depth, then for fonts less than .2" height, it helps to drop down to 30IPM X,Y and slightly lower for Z to prevent bit from plunging in fast and pushing wood in delicate letters sideways and breaking the wood on previous letters.