Heat gun and scraper, photo taken before sanding(carefully!!!) with a Fein 350Q with 80#grit, then a quick pass with #120. This would have been murder to do by hand.
I followed that with a paint thinner(low odor)wipe down. Next: 2 coats-10-15% diluted $10.00 /qt varnish-no sanding between coats. 2 days later-bone dry-Fein sander again(4.5" disc + corner pad) this time with 220#grit(concave handrails-by hand-150#then 220#). The trick was to turn the rpms down. It looked as though I took the varnish off-the surface was then, very smooth and flat.
3rd coat full strength $10 varnish. When bone dry- vigorous wipe with 3M brown pad(1200 grit equivalent), clean with tack rag.
Brush on 4th coat, dry, that's when this photo was taken. I'll add at least one more coat(3M 1200 first), as the weather this weekend won't allow much outside of the cabin. But I could live with it now(below decks-UV protected).
This is what Charlie meant by how the old grain 'pops out'. I never get tired of seeing this happen. This is very addictive work.