The water intrusion test has been done several times on other sites. If you Google "lure water sealer test" or something like that you should find them. As I recall, what they discovered is no sealer stops the water from coming in. And, whether you dip the lure in the sealer quickly or soak it in sealer for days, makes no difference.
As for using resin for production, it is nice but also very toxic which is what I don't like. They recommend a respirator at all times, fresh air circulation, gloves, etc. And, each time you machine a resin lure, drill, cut, etc, you introduce more toxins in the air. Isocyanates, known to cause cancer.
Wood dust can be dangerous too but far safer than resin. I like the thought of using pvc but the foam board is way tOO soft, I can pull a screw right out with pliers. The decking I haven't tried because it's not available without ordering.
RM