Restoration or elimination?
If you are restoring the boat then you probably are only interested in teak. But if you want to eliminate the varnish work then consider Jonathan's idea. The Related Link is a picture of my handrail project, four rails totalling almost 35 feet. This is PlasTeak but I made them myself from their 1x3 "lumber", two pieces twelve foot long and two over five feet. It is very easy to work using normal woodworking tools. You need a drillpress to get straight holes, especially if you want them to match the old ones(also true for real teak). There is also a darker color of teak, more like my original rails.