Krejciman -- I'd try using the teak cleaner, then brightener, then oil...first. I'd look to sanding only as a last effort. If you end up sanding too much, seems like the wood would lose a lot of it's contour. And mine was pretty bleached when I bought the boat, but using the cleaner a couple times did the trick.
Derek -- yours sounds pretty normal. Teak sucks. But looks soooo good when it's freshly oiled. The swimstep cover is among my favorite Epic accessories (I think you already have one, though).
I've cleaned my teak 3 times this summer, and probably oiled about 6. It's about due for another one -- but oiling is so quick and easy, I don't worry too much about it. The reward is worth the effort.
