My guess is NO. Anything with resin (paint, varnish, etc) will eventually crack and trap water under it. You would be better off not putting anything on the frame so it can dry out between uses. Salt water use is good-- the salt is a preservative. Some people pour a little automotive antifreeze into the ends once or twice a year and swish it around to kill any mildew or fungus that has grown there. Those of us who do coat our frames have found tung oil to be ideal. I get online mine from Lee Valley Tools.

: What about "Val Oil"? I have some that I use on tool handles, the
: ingredients are: Alkyd resin, Urethane-alkyd Resin, Mineral Spirits, and
: Xylene. Claims to "seal wood, metal and masonry"! Do you think
: it would be ok for a SOF?