Huge difference from pure undiluted oil. Raw oil takes more than 2 weeks to dry. With 25% white spirit takes 24 hrs. Also soaks into the wood much further and quicker.
The wire wool issue is somewhat controversial with many differing opinions.
My own experience is very favourable. I use it. But DO NOT use it on bare wood.
Sand down to your desired grade say 320grit, wipe with tack cloth then apply 1 st coat of Tung Oil/white spirit mix, rub off excess with cloth and leave for 24 hrs.
Then prior to next coat breifly and gently rub back with Liberon 0000 wire wool.Again, DO NOT go overboard, really here less is more. Otherwise you will end up with black spots where bit of broken wool interact with water and rust.
The breif rubbing back really does improve the finish a lot. I usually go with 4 coats.
Leave for as long as possible to dry.
Good luck.