Hey Rocky & Eddie.
We cut and milled more than 180 cedar trees for boards and another 25ish posts for Lusk Lodge, Two. We tried the polyurethane for the exterior cedar and it lasted about four months before showing signs of weathering. That was with three coats. Someone told me about a product called "Sikkens" so we checked it out and bought it.
The polyurethane is clear and just makes the natural color "jump" out. We used it extensively on the inside of the house.
The Sikkens products (there are two kinds for each application) tinted the cedar a slight yellow color. It looks good.
The trees we milled were cut into 4"x 8" beams, 1"x 8" & 1"x 6" boards for the ceiling and trim. The posts on the inside of the house had the bark stripped, those that hold up the porch have the bark on them.
We found that stripping the bark by hand was faster than using our pressure washer. The pressure washer would take off some of the bark, but took longer than just peeling it off. But, we did it the same day we cut the trees, and we did it in the winter. The bark was wet and easy to pull.
Once the trees sat for a few days, getting to the white wood was a little tougher. Once the trees sat for a couple of months, termites made their way under the bark and left little "trails" of chewed wood and sawdust. Looks rustic, but it was even harder to get the bark off.
Overall, we love the cedar. We would do it again.

Teach a man to grow fish...
He can teach to catch fish...