Wooden Deck Coatings ?

Have an older wooden Deck, the surface of which is pretty splintered and not too smooth anymore. But the wood itself, seems good; just a miserable surface now.
I've seen several ads now for Deck refinishing coatings. There's on by Behr (Home Depot), and I think Rust Oleum has one also. Probably others too.
Anybody have any experiences with any of these ? Which are "good," and which to avoid ?
Any negatives to their usage ? Good approach ? Or, just forget and replace the wood Deck floor ?
Are these coatings used on the railings of the Deck also ?
Any thoughts, caveats, pros and cons, etc. on using any of them would be most appreciated.
Thanks, Bob
This email is free from viruses and malware because avast! Antivirus protection is active.
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
Add image file

HomeOwnersHub.com is a website for homeowners and building and maintenance pros. It is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.