D&B
Poliglow is not much different than Future floor finish, FYI. I have seen good results, but I have seen bad results. As with many things, it is all in the prep, and if you are going to the pains to prep for a good Poliglow job, you are a long way down the path towards a proper polish and wax. I vote for polish and wax, as you are restoring the underlying gel coat as opposed to putting a shiny cover over faded and oxidized gel coat.
My exposure to the restoring of wood boats tell me the hard wood in the interior is a wood that could/might be called mahogany. Lots of times you don't get mahogany though, as Chris Craft had a wood called Philipine Mahogany that was actually another species. I am fairly certain from the restoration/rebuild of my '75 Catalina 27 that the interior is not teak. Teak tends to be reserved for exterior surfaces. Unfinished raw clean teak has a light color to it, kind of a goldenrod color, not brown like oak, but not red like cedar or redwood. If you look at a clean sanded un-stained hunk of solid wood from your interior you will find it has a pinkish brown color more in line with luan, the unfinished plywood material found on many hollow-core doors. Luan and mahogany are very similar in color when found in natural un-finished un-exposed condition.
As was mentioned by Stu above, the large flat panels on the interior are PLYWOOD. I am now farily convinced the top layer in these older boats is a paper-based "picture-printed" layer; the UV exposure has killed the red in the pigment leaving a tan/grey/yellow surface on the plywood surfaces. DO NOT SAND these as you will "erase" the grain exposing the plain yellow "paper" under the picture. That being said, ironically the top layer will accept stain, so I have stained part of my interior's large flat panels to blend with and match the stained and varnished real wood.
To see some of the interior restoration and modification I have done on my '75, take a look at the forum thread here:
http://forums.catalina.sailboatowners.com/showthread.php?t=123450
BTW, my solution on the stair treads was to wrap them in carpet as shown here. I patterned the floor in the interior and had custom carpet made. The tread carpet pieces snap on.
I will get to refinishing them sometime, but it will be either after I get the rest of the boat ready to go in the water, or after I get the boat in the water... Water is a separate issue in parts 'round herer lately....