[drcoastline]

It's definitely faded. They only way to restore and get an even color is to sand the surface. My first question is, is there a finish or is it just oiled?

If it's oiled you can just sand the surface. It's hard to tell the final smoothness but you can start with 80 then progress with 100, 150, 200, etc. Until you get to the final smoothness you are looking for. Then use an oil with UV inhibitors to oil the surface. Of course vacuum then wipe down with a tack rag before oiling. If you have any dings you can dampen a rag and rub the spot that will raise the grain. Really bad spots you can use an iron over the damp rag to steam the grain.

If there is a finish the first thing you need to do is determine the finish before proceeding.

I would be EXTREMELY cautious with a belt sander and advise against anyone with out experience using it. You can do a tremendous amount of irreparable damage real fast. I would opt for a good orbital hooked to my shop vac.