I realise this an old thread but this info might be of use to resolve an ongoing requirement for most teak decked boats. We had all decking and capping re-caulked in Thailand by a really good contractor in Yacht Haven, Phuket. They scraped out all old caulking, taped up the edges and applied Sikaflex caulking. After a couple of days they removed the tape and simply sanded the teak with rotary sanders, removing excess sikaflex and leaving a perfect finish. All the hull/deck capping was also removed and totally reused after new sealant being applied, especially around the stanchion joints. The through holes for the stanchions were countersunk to allow a 'gasket' of sealer to form before the capping was replaced. This resolved an old irritating problem of water ingress through the capping, a job that wasn't properly done in the factory at the outset. No problems since after four years and much endurance blue water sailing.
