I used schooner varnish for the wooden mast for the Drascombe Longboat we use at Sailability and it was absolutely fine.
I am about to do up K88 - again - and will be using a one pack for the hull, with a primer/undercoat combo underneath, then International Brightside for the side tanks, then a international non slip for the floor. I haven't yet decided about the top decks; either G4, so I never have to do them again, or a two pack varnish, since I have some left from doing a carbon mast.
If you need an exotic shade or colour of paint, the best place to go is Shepherd Marine:
http://www.shepherdmarine.com/