Kirby,
I recaulked my teak deck and bought materials to rebung the whole deck. Here is the layout:
Tools and caulk from Teak Decking Solutions: $1500 (you get a discount for quantity)
Ripping the seams: 2 days
Sanding and cleaning the seams: 1 day
Tape the seams and boards: 1 day
Caulk and haul tape: 2 days
Bunging: 2 days or so depending on the number of bungs
Sand the deck to personal level of finish: 2 days
All of these things I did in segments over about 6 months as I was working solo and performing 40 other projects.
Do I regret it? Nope. They are beautiful, strong, and a marvelous non-skip (especially in bare feet) It was a lot of work, but worth it. Then in the future stay on top of the bungs (I have a few more to do as well. There is a lot of money in teak aboard there, just take care of it. I am leaving anything that is potential non-skid grey because it is much better for the teak that way and oil eats the caulking. Talk with Roberto at TDS, and he will help you out.
If I were to do it again, I would haul up all the boards and glue down with the TDS deck epoxy, repair, seam, etc.
Cheers and good luck!
T.