Ahoy there.
You might open this up on the WoodenBoat Magazine Members Forum.
I seal and prime with a product called CPES - Mr. Smith's Clear Penetrating Epoxy Sealer. Over that - and I've experimented with many modern finishes - I've had best luck with either old fashioned spar varnish or (as I use on my current cat boat mast) a traditional paint made by a marine paint specialist. I use Kirby's - still family owned and real stuff.
The point is that spar paint takes a lot of abuse between flexing, chafe and weather. The paint must be both durable and most important easily repairable. The modern goos are nice and hard and durable up to a point but they are hard to just repair.
By the way, I'm not against new or odd uses. On my last boat I used exterior latex housepaint for the topsides.
G'luck
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