It’ll condition it and moisturize it. And it’ll look really good. It’s typically something that should be done a couple times per year (but never on maple finger boards).
It’s relatively cheap. I try and do it twice a year after I polish my frets.
A lot of the fret board woods are dyed, so the die can come off. I would just oil it and avoid cleaning it with water. I use a "lemon" oil cleaner from dunlop I bought for like 5 bucks. I smear it into the fretboard, let it soak in for a while, and then rub off the excess with a shammy and any buildup on my fret board usually comes right off. I wash my hands religiosly before and after I play. Before so that I can keep my fretboard clean, and after so I dont accidentally ingest any of the lemon oil and get diarrhea. Most lemon oils are not actually lemon oil, but in my experience they are mostly the same. They do the job. Oiling your fretboard will darken it, maybe not as dark as it was or as you would hope, but it keeps the wood protected. As far as dying it, cant really help you there, I wouldnt bother myself. One of my guitars I noticed after some sweaty practice sessions that the dye on the fretboard was coming onto my fingers, but it was a pretty new guitar, hasnt happened for a very long time. Also want to point out that a lot of rosewood fretboards arent actually rosewood, people just call it that but there are many types of cheaper alternatives to rosewood that many manufacturers use, like pau ferro, which is just a lot lighter brown color than rosewood. I ordered an ltd with a pau ferro fretboard and was disapointed because it was nearly black in the stock pictures, like rosewood or ebony is, but when it arrived its very light brown. A lot of ebony is dyed and I imagine you can really ruin it if you were to scrub at your fretboard. So yea, get some lemon oil, I use this stuff
Dunlop 65 is probably the most used and most recommended one.
It has a nice, non-overpowering lemony smell to boot (the smell dissipates quickly, if you're worried about that). I use this and I'm quite happy at the aesthetic "refresh" it gives my neck during a string change.
Dunlop also gives you more product for the $$$ than other brands as well. So win/win. The bottle should last you a LONG time!
In my opinion there's no need to get anything too specialized.
For the body and pickguard I typically use a household cleaner. It will depend on your guitar. I have a strat and the thick paint and finish really shield it so I'm comfortable diluting household cleaners and going with that. A lot of people don't recommend this due to harshness of the cleaner, but if you really feel that way it's easy enough to dilute with water. Make sure you just dab a cloth in it rather than soak. You don't really want to do a wet cleaning, but just enough moisture/cleaning action to remove dirt. The pickguard is plastic so no issue there.
For the fretboard I'd really recommend lemon oil. The dunlop one is $4 on amazon and can probably be found locally albeit maybe a few dollars more expensive. http://www.amazon.com/Jim-Dunlop-6554-Ultimate-Lemon/dp/B0002OOMW6/ref=sr_1_3?ie=UTF8&qid=1459372544&sr=8-3&keywords=dunlop+65
This will both help clean and condition the wood. It's a pain to clean the fretboard but if you're changing strings, might as well take advantage and get it done.
wash your hands before playing and wipe your strings before and after you play, that will help your fretboard from getting so gunky. along with that, buy some cleaning products for your guitar. here's what i currently use to clean my fretboard:
It’s oxidation and gunk. Material from the frets mixed with sweat, oil and dead skin.
The good news is that you can make your fretboard and frets look and feel brand new with two supplies:
Lemon oil:
https://www.amazon.com/Jim-Dunlop-6554-Ultimate-Lemon/dp/B0002OOMW6
Micro Polishing cloths:
You use the cloths to remove the gunk from your frets until they shine and then you use the lemon oil to clean the entire fretboard.
You should do this a few times per year before installing new strings to keep your fretboard in great shape.
Looks dry to me. You can try this on it. I have this and put it on my rosewood fretboard guitars.
Lemon Oil - https://www.amazon.com/Jim-Dunlop-6554-Ultimate-Lemon/dp/B0002OOMW6
Not in a million years! I only use this on fretboards:
Jim Dunlop 6554 Dunlop Ultimate Lemon Oil, 4 oz. https://www.amazon.com/dp/B0002OOMW6/ref=cm_sw_r_cp_api_glt_i_G6HHJXTSPDQFQGF53T6P
I like this:
https://www.amazon.com/Jim-Dunlop-6554-Ultimate-Lemon/dp/B0002OOMW6
Any quality lemon oil will do a good job though. I use it several times a year to keep my rosewood fretboards clean.
You can also buy this to wipe down your strings after you’re done playing:
https://www.amazon.com/Dunlop-6582-Ultraglide-String-Conditioner/dp/B0002NIRIC
that along with a toothbrush, an old guitar cloth, and steel wool for the frets.
Is it better than THIS for cleaning fretboards?
Do you just mean something like this? http://www.amazon.ca/Dunlop-6554-Ultimate-Lemon-Oil/dp/B0002OOMW6/ref=sr_1_7?ie=UTF8&qid=1430274249&sr=8-7&keywords=lemon+oil
Don't mind me - just leaving myself a note.