Re: mahogany: oil or varnish?
IMHO A very important feature to look for in your varnish is UV inhibitors. If you don't have this your varnish won't last. Stick with a marine type varnish like Captains', etc. if you decide to go with varnish. Also, some finishes are softer than others. This isn't so important on rails, cabin sides, etc, but if you sit on or walk on your surface get a 'hard' finish. The most common places for varnish to give up the ghost are seams and edges/corners. Be sure those areas are smooth and/or not sharp.