This is the million dollar question. I tried Honey Teak and like the results for a couple of years but had trouble making repairs look good. There has just been a discussion on the forum about Bristol Finish and you should look at those recent posts. Some like it some don't. Cetol is another popular coating.
Personally, I have had poor results with Bristol Finish, though others have had good results. I am trying Cetol now.
I did see a large schooner in Savannah, GA that had good looking exterior wood and they told me they used a Home Depot Deck finish. They said they were quite happy with how it held up and it looked pretty good, though not as nice as other finishes I have seen.