Ive seen many failures with Bristol ... mostly from 'thin' applications.
The discussion issues on the woodboat forum do itemized the cracking of such coatings at scarf, etc. joints - true and Bristol being one of the 'hardest' coatings will easily crack when the joints 'work'. Honey teak is also subject to cracking at scarfs but so too does more 'flexible' varnish. For scarfs and joints I find Honey Teak a bit more 'flexible' and similar to spar varnish, but unlike all the other coating systems its probably the Easiest to Repair and regain 'color match'.
FWIW - Once Cetol becomes thick due to successive over-coats it becomes very brittle and is more apt to become 'alligator cracked' ... and not necessarily on the joints but also on the flat surfaces. Nowadays any coating system that when needing 'repair' also needs 'total stripping' back to bare wood is 'out' in my book: Varnish, Bristol, Regular Cetol, 'resinated' oil finish, etc.
FWIW - I have had success with multiple product layup schedules: epoxy seal, then 6+coats of oil based varnish, followed by 2 coats of urethane varnish over that, etc. and then occasionally rubbing on SPF 50 sunscreen over that ... but ultimately such will lift or develop the 'blacks' under the coating due to moisture intrusion ... and you always wind up doing a complete strip to bare wood and start all over again.
Like I stated in my previous post ... Ive found HT to last 10-12 yrs with only moderate repair but does need at least a thick 'clear maintenance coat' at least every 2 years. Its probably the MOST expensive of all the coating systems but when you amortize over that time it really comes out the cheapest in money and TIME ... and I can 'finish' it to look like it belongs on a mega-yacht or private multi-engine jet aircraft. HT has a very high 'learning curve'.
I admit that Im still a fanatic and probably one of the very few that actually 'finish' a finish - flat sanding, hand-rubbing or power-buffing AFTER the finish goes on for - glowing irridescent patina of the wood, totally flat and unbelievable gloss.