We just put in the oak counters, and I used Dark pure tung oil from The Real Milk Paint company. I put about 6 coats total, but only on the top and exposed side. We did polyurethane the the sink cut-out. It's only been a little over a month, but they look and feel great. The dark tung oil made them a darker, which I like. And they feel so good!
If you decide to go with the tung oil, I can tell you what I learned along the way.
I'll tell the pros/cons so far:
pros:
looks and feels lovely, natural
water beads up on it and it's easy to take care of.
when food drops on it, I don't worry about safety and let the kids eat it anyway.
easy to apply and it smells fabulous when I do!
cons:
I do wipe up water spots after washing dishes- for me, this is no big deal, but it might be more trouble for others.
I scooted my new plates across the surface and it did make a scratch on the surface-- I oiled it out.
If you have any more questions, let me know!
I didn't answer about the overhang, because for some reason I'm having trouble visualizing it. sorry.