The other favorite brand among many cane builders is Ace Hardware brand spar in the green label can(I think red label is poly) . There was just a lengthy discussion on the bamboo forum about varnishing with a turkey baster. Check out the video on youtube. search "Hows that made, bamboo rods". They show the guys at Thomas and Thomas using a baster.
You do have to thin the varnish but then again that is what Formbys is so you could make your own.