The best product depends on what you want. If you want to see the grain of the wood, use semi-transparent oil stain. If you want a paint-film finish that is opaque, use the latex. I am not a fan of solid latex stains, and would use a stain-blocking primer and high quality paint if I wanted a film finish. If the wood is in good condition and you want to see the grain, the semi-transparent alkyd is the way to go.