I got some Velvit Oil from Barbara Gill when I visited her to purchase some wood about a year ago. It's a relatively high solids content oil/varnish product. As oil/varnish finishes go, it's pretty good.
While I've never used Velvit Oil on a floor, oil/varnish finishes are what I prefer for floors. Some people look for the hardest high gloss varnish they can find on floors. I don't think that's a very good choice. Hard finishes are much more difficult to spot or area repair and damaged spots or worn areas are the main reason wooden floors are refinished. Oil/varnish finishes aren't as thick or hard but they're a lot easier to maintain and spot or area touch-up is a snap. You can easily refinish a badly worn spot and it'll look great with a minimum of effort. Hard polyurethane finishes really need to be sanded for any refinishing. Sanding is nether easy or cheap.