Check here for Minwax stain color combo for butterscotch:
http://www.tdpri.com/forum/telecast...6259-blackguard-partscaster-project-pics.html There is a pic of the three open minwax cans, but it appears the pic of the finished guitar is gone. There seems to be a pic of someone else's guitar that used the same recipe. Personally, I think the shade is a little intense for me, but I bet it could be adjusted without to much difficulty. However, it has a lacquer top coat.
(Besides trying on scrap) you might consider spraying the water stain with a preval sprayer.
Here is another thread with minwax water stain rubbed on, followed by tru oil:
http://www.tdpri.com/forum/telecaster-discussion-forum/53011-tele-project-finally-done.html It's not butterscotch, but minwax followed by tru oil seems to work.
NOTE: neither of the links I've provided deal with pine. Colt's warning re staining/dying pine should not be taken lightly.
Some strategies you might investigate for pine is a wash coat of shellac to prevent uneven staining, pre-stain conditioner (similar to the shellac wash coat, but a thinned poly is what I hear is the content), or spraying the stain. Practicing with any of those options would be wise.