As mentioned, the finish breaks down when cracks appear. The expansion and shrinkage of the wood, along with the elasticity of the finish, are primary factors, along with UV resistance. The first link gives a table of strenght
Compare Woods
and durability of various woods and then of its stability. IPE is the most durable, readily available wood and its stability is ranked third.
The second link is to a new coating from US Coatings
US Coating
that is flexible, cross-linking to the wood.
The third link is for US Coatings Anchorseal
Anchorseal
that is applied to end cuts as soon as the cut is made. The end cut is the most vulnerable entrance for moisture.
The fourth link is for House Of Hardwoods in Los Angeles,
House of Hardwood
where my truck is being worked on. Scott gave me a quote last year of custom milling 5/4 IPE, grade 1, kiln dried and milled to the profile on MAR-K's site, with all corners 1/16" radius (coatings adhere better to a radius than a sharp edge, reduced chnace of cracking) and sealing the ends at cutting for $500 plus shipping. For those wanting a non-original, non painted but durable finish, you may want to cosider these factors.

My question for the group is more about original finishes, in regards to my 1956. The fifth link is from Jim Carter's site
Jim Carter Site - Bed
where he states (at bottom) that beds were black up to Task Force 1955. After that they were sealed and often painted body color. Does that mean they could have been painted black also or were they all body color? In all the searching of images on the web, I have only discovered one project that when the plywood laying on top the bed was removed, the bed was painted red. The PhotoBucket links.
Anyone have any info on this?
Thanks, Joe
Painted Bed 1
Painted Bed 2