Well, thanks to the estimate from The Floor Refinishing Guy we learned that we will need to replace our steps. Not the entire set of steps, just the boards you step on when you go upstairs. My first reaction was not that pretty until I learned that this would actually end up being cheaper than having them sanded and refinished.
I guess that all the steps would need to be sanded by hand (makes sense) and, according to The Floor Refinishing Guy, it will cost us less to replace the boards on the steps then it would have cost us to have him sand four of the steps.
So, score one for the home team! Labor we have - money we don't:) According to The Husband it should not be that difficult, so here's hoping he's right.
JP - if you are reading this, I nominate you for the job!