A glossy finish using Poly makes the wood look like plastic. Given that it is very durable though. Rain doesn't seem to have any damaging effects on it on the outside.When a glossy poly finish gets dinged it really shows up.
Satin is prefered by some. This can be a poly finish as well and very durable also. I personally don't like satin but that's just me.
Oil finish looks good and has a gentle sheen to it but it can be delicate when subjected to rain or crummy weather. There are some oil finishes out that have some poly in them with a drying agent that when built up look quite nice and have some durability to them. These finishes dry unlike linseed oil and have some life to them.
Just my two cents worth.
Regards, Gordon