Making the rails all one color is fairly standard and lowest in maintenance costs.
The trim edge of the deck is typically stained the same as the verticals so running a tape along the decking would help to keep the solid off them.
Edging with the semi-transparent is simple enough as well. The end result is a very nice manicured look and is not hard to take care of albeit you
will need to touch up these edge tops every time you do the floor.
Rod