I read an article on finishing oily woods in an issue of Fine Woodworking that treating the wood's surface with acetone or other evaporating chemicals to remove the surface oil simply encourages more oil to migrate to the surface. That article recommended shooting the surface with a 2lb cut of dewaxed shellac (Zinsser or otherwise) from a mix or a spray can before applying the final finish. The shellac will dry whether or not the surface is oily. Your final finish could then be applied after sanding with very fine sandpaper.
I've used shellac to refinish the knob and tote on several of my antique hand planes, and that is rosewood. Works like a champ.