I'll second the Verathane approval. I built my Morris SOF with 12-oz ballistic Nylon from Dyson, and coated it with waterbase Verathane Diamond Satin Exterior varnish. I only did mine a year ago, but it looks perfect.

I used foam rollers to apply it, which puts it down fairly thin each layer, but gives a very good finish. It took ten coats. The drying time is fairly quick, and since you can't really sand between coats, this makes for a marathon painting session. I started early on a Saturday, and painted every one to one-and-a-half hours or so, which had the last three coats going down at 2am, 6am and 8am on Sunday. Doing it right is really worth it, though.

Mark

: The only water based polyurethane I know that will work is Varathane, made by
: Fletco (or is that Flecto?) I used it on my SOF and it is holding up
: great, about to enter its third season without any problems.