Stair treads are sometimes the most overlooked part of flooring. They are covered with carpet or carpet runners and no one sees them until they get loose and squeak. But steps can really show off a home as they are at eye level.
Painting: The most common design for steps in the Victorian age was paint with carpet runners. You can clean the steps with TSP (tri-sodium phosphate) and then prime. Most paint companies make a latex porch-and-floor paint but oil-based ones are more resistant to abrasion and wear better. However, latex is a non-slip paint whereas runners would have to be used for oil finishes
Runners: When you paint stair treads runners are a good idea and a good carpet can fit in with your home design. In addition, a sisal or jute runner are great in high traffic areas.
Rubber Treads: For basement steps and other utility areas rubber is a great alternative. The treads are shaped to go over the nose of the tread. So you can paint them in a high gloss paint and then glue the treads down. They are available in a few colors.
Stain and Urethane: Another good idea to spruce up basement and utility steps is to sand them down with a belt sander until the clean wood shows. Not all of the blemishes will be gone but now you apply a dark stain. When this sets put on 4 coats of a water-based urethane. The grain will raise a bit giving the steps traction.
New Hardwood Treads: Most people prefer this method of treads for new homes. However for finsihiong there has to be traction for safety.