Our current deck has pressure treated wood that was painted gray, but because for some reason(s) the paint keeps on peeling off, so we need to repaint every year. I believe our delimmea is due to the wood having moisture problems. We visited Home Depot and seen composite boards in same gray color.

Well anyway, we are going eventually replace this wood with composite boarding because i believe it will require less maintenance like your contractor stated. We are not pros at the time of this writing, we are DIY'ers.