Why use pressure treated wood, unless you think your wood will be regularly soaked in water, and/or left unpainted/unsealed?

Mar-K has multi-year tests on bed-wood "finishes" Their tech-tips now seems to be all pdf files - I do not want to do the downloads to find the correct "report".

http://www.mar-k.com/index.php?p=tips-and-tricks

A few years ago, the best bed-wood finish (dried pine, almost as original) was something like this:
- dried pine
- 2 coats of Behr's exterior oil-based house paint (I thinned the first coat)
- 2 coats of POR (whatever the newest POR number is: POR-10, POR-15, POR-??)
- on my COE flatbed, we did this with POR & Behr Satin/Semi-gloss

You have watch carefully the Behr & POR recommended "repaint/paintover windows".

It is holding up well, and it looks real nice.