My #1 choice is ''Cabot'', Australian Timber Oil, in ''Honey Teak''.
It's a nearly transparent color allowing the most wood grain and texture to show through.
Makes for an ideal rich looking natural finish on cedar.
I have a cedar house and cedar everywhere, plus teak... Most my expertise is outdoors or exterior.
Interior use pick what you like. Most stores have sample displays with wood pieces stained.
What color are you looking to get?
I realize that this is an older thread, but if anyone drops by with an interest in this topic I would recommend downloading the "How to Finish Western Red Cedar" booklet from the Western Red Cedar Lumber Association. It is a free pdf download and is available here: http://www.wrcla.org/pdf/WRCLA_Guide_to_Finishing.pdf
Thanks for posting and sharing.
Very informative info.