Pete, when you're talking about 4300 gallons, or a 104 degree hot tub, I agree with you completely. But if we're talking about a 300 gallon at 80 degrees with lids, I just don't see where waterproofing will do more good than harm.
Its never going to be "waterproof", all its going to do is condense the humidity into drops which will then run to unventilated areas spurring mold and mildew.
While your gigantic tank (or a hot tub) might require a 3 foot attic fan to properly ventilate, I really believe air exchange to be better than trying to waterproof.
The solution is probably (as you said) somewhere in the middle of the two positions, protective coating on the surfaces (even latex paint) and air exchange.
I am not trying to argue with you, you have 1000x the experience in this area than I do and I acknowledge your position, I'm really just trying to further discussion for my own education.