If your keen to make your old, weathered, grey decking look new again, a fresh coat of decking stain applied properly is the way to go.
Always thoroughly clean your deck with an appropriate cleaner first - Deck Clean made by Cabots is a good choice. This will clean and remove mould and re-vitalise timber ready for re-coating.
Make sure you then use a Lambswool applicator to apply the decking oil. This takes approximately a quarter of the time of using a paint brush, with no splatter. It will also give you an even coat.