I've done a lot of research in this topic, so allow me to drop some 'nawlidge:
For a hard clear coat I don't suggest Tru-oil, or any oil (Tru oil is based on linseed oil, and all real oils literally turn into plastic as they polymerize by oxidation, they stink, never really become "hard", aren't completely translucent looking and crack as they agel)
I don't suggest any synthetic based stuff (polyurethane, epoxy, synthetic shellac, synthetic varnish). Multiple reasons for this, not going to digress.
You mentioned low-tech, and the best method is "low-tech", as in it has been done for hundreds of years with natural materials. But it's not "homer simpson easy" as in buying a can of some shtuff and shmearing it on your instrument. It's DIY
It's what's used on classical violins, such as Stratovarius, to get the best sound. It also doesn't involve anything toxic.
To do it right, it basically consists of an undercoat, called the "Grounding" (gum arabic, egg white and honey, though it sometimes also contains shellac flakes) mixed with a silica rich mineral component, which was originally volcanic ash (cheap online), but you can also use diatomaceous earth (also cheap).
Then you varnish over this layer, with varnish (recipe below) and then buff it to a glossy finish. You can skip the grounding if you want super simple, and just use multiple layers of varnish instead, but it won't sound, look, or last as well.
To make the old style varnish, there are a few recipes. The best uses tree rosin, pine essential oil, mastic gum, linseed oil and a mineral drying agent.
But if you just use rosin and pine essential oil, it should be durable enough, as long as the ground layer is thick enough, or you use multiple coats.
The rosin by itself is brittle, the reason they add linseed and mastic gum is to make it more flexible, but if you use linseed, even pre-oxidized linseed (boiled, or "venitian", various forms exist) it needs a drying agent, called burnt alum, so it's a bit of a grocery list.
To get the varnish making supplies, I use:
http://www.woodfinishingenterprises.com/varnish.html
To get volcanic ash: ($2/lb)
http://www.standardceramic.com/Materials.html
Nothing looks, feels, or sounds as good as natural materials. It might not affect the sound of an electric as much, but the feel and look might matter a lot to you, YMMV.