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The best finish for wrought iron railings is either a semi-gloss or a gloss sheen, as each offers good durability against rain, wind, heat, cold, and snow. 

Yes, you can and should paint or stain pressure-treated wood to help prevent the boards from cracking. However, you must wait for the wood to dry out completely before applying any finish. Freshly treated wood can take weeks or even months to dry; a common recommendation is to wait three to six months. To check if the wood is ready, perform a simple water test: drip some water onto the surface. If the water beads up, the wood is still too wet and needs more time to dry. If the wood absorbs the water, it is dry enough to be painted or stained. You can proceed with building your deck or fence while the wood is still wet, but you will need to wait to apply the paint or stain.

If your cedar fence is new, don’t delay. Unlike treated pine, you don’t need to wait months for the wood to dry out for it to accept stain. With cedar, the sooner, the better. Seal cedar within two weeks of installation to prevent the sun from fading its red color.

Adding a second coat of stain to wood can even out the color to some extent, but it won't drastically alter the hue if the initial application is too light or too dark. It's more effective at enhancing the richness of the color rather than significantly changing it. Ensure the first coat is dry before applying the second.