Deck waterproofing options

My house has about 300 s.f. of decking, some in cedar that I put in two years ago, and some from the 1980s (I think) in what looks like pressure-treated. The older stuff wasn't maintained, and is badly cracked. I had both treated professionally two years ago, and it looks like time for another coat.
Too many options, and all expensive! I recently used some Behr "Scandinavian tung oil" indoor/outdoor stuff on cheap teak furniture, where it worked pretty well. I deliberately dripped some on a corner of the PT deck, and the result looks and feels good. Would this be good for a main coating? Are the acrylics better? Just plain linseed? I don't mind waiting a week before using the surfaces.
Thanks for ideas.
-Theo
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If you are looking for THE best wood product, it is TWP. Log home owners who have a lot more wood to preserve than just a deck will verify this is the best. Lasts between 5-8 years. Depending on your application you would use TWP 200 or 300, definitely not the less-expensive 100.
Harder to come by, not sold in stores so you have to order it through a distributor. Here's a link: http://www.woodsealants.com /
Yes, it's expensive and you'll use a lot the first time since it penetrates way into the wood. But still a lot cheaper than replacing all that decking.

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For decks and outdoor furniture, best I've found is Penofin Oil. http://www.penofin.com /
If you want to go to color for some reason, Sikkens Rubbol DEK is good.
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I
"Scandinavian
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stain $23 gal at Lowe's or Home Crapo. I had 650 sq ft took two gal and about a cup. I used a hot dog roller to put it on and a house broom to brush it in. It came out nice was surprised.I spent quiet cleaning the deck before I stained it. I have also used Penofin, but the last couple of times I wasn't to impressed, I know the keep changing the formulas so you never know what you have anymore
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