Been dipping Woodies in Min-Wax Water Based Poly for Years.
Trick is to let it
CURE well between coats. Just thin it down a bit. I agree with the Light Steel Wool Rub between dips, and just dip those Puppies until
YOU are happy with the Finish!!
Never had a Problem with Rain or "Inclement" Weather affecting the finish. Doesnt hurt to put a Light Coat of Johnsons Floor wax or Turtle Wax near the Business end if they start getting a little Foam Burn! Of course, that goes for Aluminums too.