Oil gives penetration, latex does not. Some people have been known to use a waterborne stain as a primer, just because it will penetrate into raw wood. Then, you can topcoat that with regular paint.
However, if its a repaint, I would feel confident spot priming with 123, if there isnt extensive raw spots. If the whole side has flaked off or something, I might consider using a slow dry oil on that side only It really depends on the shape of the wood. Quality paints nowadays can handle chalky surfaces. Thats why its getting harder and harder to find Emulsabond.
After you get it scraped and spot primed, if its chalky, bucket wash it with a car brush, and simple green or something. It MIGHT take care of it.
However, if its a repaint, I would feel confident spot priming with 123, if there isnt extensive raw spots. If the whole side has flaked off or something, I might consider using a slow dry oil on that side only It really depends on the shape of the wood. Quality paints nowadays can handle chalky surfaces. Thats why its getting harder and harder to find Emulsabond.
After you get it scraped and spot primed, if its chalky, bucket wash it with a car brush, and simple green or something. It MIGHT take care of it.