Unless it's a purely utilitarian application, such as drawers for the workshop, i'm all for finishing the drawers. I usually go with a few layers of gel or wipe on finish - i don't like sanding and definitely wouldn't want to spend the time sanding the insides of drawers. I like gel varnish or danish oil for this purpose. I use shellac for a lot of things, but i don't think i'd use it for this because it softens with heat and humidity. That slip of paper at the bottom of the drawer may NEVER come off. I also don't like lacquer because it's not very durable. It scratches very easily, and drawers do take a lot of abuse with things being dropped into them or sliding around as the drawer is opened and closed.
Varnish or poly (what's in the danish oil) are much more durable.
paulh