On my Storm Petrel Cadenza over the past 6 years (or is it seven?), I've used Rustin or Colron Danish Oil: dead simple and quick to apply, but you do have to do it twice a season to keep it looking reasonably decent. I agree, robustness is desirable.
Looking at my workshop shelf in the light of your comment, Matthew, I find I've got an unused tin of Cetol Marine which I can't even remember buying - a bit worrying, that, except I've given up bothering about forgetting things. For my Trouper 12 (and I am actually inching towards That Stage at last), I plan to use Seacoat. In fact, egged on by the Seacoat people, I plan to use it not only on hardwood and spars, but also as a final coat on the aluminium battens (junk rig) once I have chemically cleaned and coated them (as a - I hope - cheaper alternative to anodising which costs nearly FOUR times as much as the aluminum tubes do in the first place). They assure me (they would, wouldn't they) that durability is Seacoat's second name.
So, I can't pass on experience, because I haven't got any yet, but I'll try to remember (and will probably forget) a progress report in due course.
Did you hear about the elderly couple, pulled over for speeding? They explained that they had to drive fast, to get to their destination before they forgot where it was they wanted to go. (I'm allowed to crack jokes like that. Could be 'poor taste' for you younger people - and it won't be funny for me either, for much longer.)
Michael