yes, except for that last part: neatsfoot oil. If you really want to "soften" that saddle, and risk the resulting sag and uselessness, then oil away. Remember that neatsfoot oil COMPOUND, which is mainly what is sold over the counter, is "compounded", meaning it's got a lot of petroleum solvents added to aid in penetration and evaporation (and make it cheaper, too)...solvents which will dry your saddle out again, faster, and even more. PURE neatsfoot oils are available, but you have to look for them.
I'd avoid the oils (all of 'em) altogether and, after cleaning with saddle soap, treat with "just enough" Proofide...but YRMV...