Need Help Painting Wood Boat

[Caldwell]

I have a wooden boat, fairly good size, that I have begun prepping for a new paint job above the rub rail. Is there a good reason as to why I should not use a high quality latex house paint on the top rather then the traditional marine paints like Interlux? This is a fresh water boat and is slipped under cover. Caulking is another item above the water line I would like to substitute if possible. The use of a good window and door exterior caulk with protective paint coating makes more sense then some of the marine caulking. The Commercial building market is using these items with a 10-15 year weather and UV durability. I want to maintain and protect my investment with a good product and not just because someone told me I can only do it with marine products. There are lots of products out there that came out of the same melting pot, only different names. Thanks for your input on these two issues.