It's just my humble opinion, but I would recommend strongly against leaving the cap rails unfinished. I know two boats that went that way. An absolutely gorgeous Hans Christian 38 and a well maintained Tayana 37. Both were/are well kept except for the cap rails. The HC's cap rails are so far gone that they can't be restored and the owners wife of the Tayana told me that after her husband passed away she had to sell the boat well under market value because of the condition of the teak.
We prefer Crystal by Detco which lasted two years in Mexico. Due to an injury we were not able to tend to the boat for 1-1/2 years. By then the cap rails had to be striped and we chose to go with an Interlux varnish because it only needed to be sanded every third coat. The Crystal was getting expensive and hard to get. It didn't look good when put it on and looked like crap six months later. We don't know if it's the varnish or the two coats of West systems we put down firs.
Last summer Julie striped the turtle deck, hatch boards, and deck boxes. She the put two coats of West systems, ten coats of Epiphanes wood gloss finish ( it doesn't need to be sanded between coats), and two coats of Epiphanes gloss. A year later they look just as good and the summers are brutal here in the Delta on varnish.
She just put the first coat of Epiphanes Wood gloss finish today after striping the cap rails. We chose not to use West first and are sticking to the manufactures instruction to be safe as it's a lot of work and we don't want to have to do this again.
Jim