So, are you talking about simply refinishing the wood, or replacing the wood? If there are deep gouges, and you want a perfect job, replacing may be the way to go. But myself, I have a 22 year old boat, with lots of wear and tear on the cabin sole. It is the traditional teak and holly. I didn''t want to sand away too much of the wood, so I stripped the old varish off with a heat gun and scraper. The stubborn areas, I used liquid stripper. Then a light sanding with 240 grit paper made it nice, for deep gouges, they can be filled with epoxy mixed with the same type and color wood shavings,or dust from sanding, and lightly sand those areas. Wipe the area down with acetone, and make sure it is dust free, a tack rag works great for this. You can either use varnish or use polyurethane. I recently redid my sole and this time I used the polyurethane, and I like it alot....3 coats with light sanding in between coats. I had to wait 48 hours in btwn. coats, only drawback to the polyurethane. I understand that it lasts quite well in high travel areas.. It looks gorgeous...then I throw rugs over it all, and you can''t even tell I redid them!!!!