I am not a painter by any means BUT i have been using SW Duration for about 5 years and it is buy far teh best product I have seen. I have southwest facing areas that look 90% like fresh after 5 years. Other paints look 50% after 2-3 years. They make a product called SuperPaint that I have been told is good too. Duration is not cheap but I would gladly pay more for a product that last 2-3 times as long.
Behr, ultra permium plus, also if you use a sprayer you need to backroll/brush it with a 2nd coat. My painter used a sprayer on only the stucco, back rolled it and then did 2 coats by hand on all the wood trim (and I have a lot of wood trim)
I've been using S.W. Duration for 11 years now. The house and garage are both wood clapboard, preprimed and cut ends sealed. The house was sprayed (and not backrolled!) 11 years ago, and the garage was sprayed 6 years ago. No peeling or blistering yet! Two heavy coats should work fine since S.W. recommends first coat on bare wood acts as a primer and second coat as a finish.
A thorough preparation and the primer are probably the most important issues. Good article on the subject in the current Fine Homebuilding. Beware of "leaching" of paint components due to overnight dew -who knew this was a problem that weakens the top coat from day one? High-powered pressure washers were also panned.