What I used is the Diamond waterborne exterior finish. Today it is promoted as being a Spar finish but it is the same can label. I started by using a quality brush as recommended by the manufacturer and the paint store but I had brush marks all over the place. I then switched to a good quality foam brush and the finish was a bit better but still showing marks. Then I tried a staining pad which is a cotton pouch with a sponge sewn in. That worked very well but it took many coats to obtain any thickness and a decent gloss. I was applying 4 coats then sanding with 400 grit wet. I ended up applying 10 coats on the hull with 800 grit wet sanding before the last two coats.
When I launched this boat ( a canoe ), it dragged on a few small stones as I pulled away from shore and later in the day my daughter banged into the floating dock with a big rusty nail sticking out. Well, not a scratch in sight! The result was worthwhile, though not quite as glossy as I would like, but it was a lot more work than what I usually go through to varnish a boat. I could probably buff this finish to obtain more gloss but then that is even more work! I will continue using an oil-based polyurethane until I find something that applies easily and has a lot of gloss.
Glen in Baie-St-Paul.