For staining, I almost always use aniline dyes. For sealing, I've used just about everything under the sun at one time or another; spar urethane, spar varnish, gasket lacquer, the Massey finish, Daly's ProFin, polyurethane, etc. I probably like Daly's ProFin the best but it costs a small fortune to ship it to my house so lately I've been using polyurethane. I like to dip my shafts and will do six or seven coats with at least 12 hours drying time in between and a sanding with steel wool.
Darren