I'm giving this a try, starting yesterday. It takes only a small amount of Vasoline to do an entire deck; importantly, the completed restoration is not slippery, even to the bare foot.
In the below photo, the shiny part across the top was "restored" with Vasoline. The lower right corner shows where a decal was removed, showing the brilliance of the original red color.
Let's see what it looks like after one season.
