You've really got to coat the stainless steel parts if they are not going to be permanently immersed.
There are a number of issues that you will have anyway with the selection of 304 stainless steel. As 304 does not have any molybdenum, its resistance to chloride pitting is going to be much less than that of 316. Typically for offshore and marine service, it is common to request 316 stainless steel with molybdenum towards the higher end of the typical grade, i.e. above 2.0%, and often higher than 2.5%, which is then getting into the realms of 317 stainless steel.
As for the design of the CP system, I would assume that the surface area of stainless steel is going to be greatly smaller than the surface area of steel. Therefore the current drain to the stainless is likely to be insignificant, and typical conservatism in the SP system design should be able to adequately cover these items. But please note that I have not reviewed the design of the system so I have made the assumption that the amount of stainless steel fittings is greatly smaller than the carbon steel that needs to be protected.
You will not get any protection of the 316 items when they are above the water line, so in those circumstances, you are looking at the relative corrosion resistances of the two stainless steels. For general pitting type corrosion, 316 is going to be better than 304 for the reasons stated above.
If the fittings are under lots of tensile stress, and they may heat up when out of the water, there may be a risk of chloride stress corrosion cracking. For 316 stainless steel, the critical temperature for CSCC to occur is somewhere above 50°C (different literature sources quote the minimum temperature to be either 50 or 60°C).
Regards
Andrew