Keeping in mind that wood swells and contracts and exercises flexibility by the simple act of moving on the surface of water and waves, one needs a paint that is also flexible and one that lets the wood “breathe”. That leaves out the whole class of polyester resin paints like Awlgrip. What works best is a polyurethane paint like Interlux Brightside. As with all paint jobs, arguably the most critical task is preparing the surface properly.
Yes. Whenever building or repairing using new wood or existing, I use Smith's Penetrating Epoxy. This is not an adhesive epoxy. It penetrates and fills the pores of the wood fiber. After three days, the solvent will have evaporated leaving the pores open again which leaves the wood flexible, but no longer susceptible to rot, termites, ants and bugs.