Hello Andrew,
I'm not sure there is such a thing as a best method, and I am certainly not an expert on deck planking. I am, however, happy to share my thoughts and expereinces, so here's my tuppen'orth on the subject:
What you describe (plywood base with strip wood planks glued on) is indeed the method I have used myself so far, as I think it makes the most sense. For the strip wood, I have worked with maple and pear. The former has a lovely whitish-cream colour, and takes stains very well (and thus can be made to represent just about any wood, including oak and mahogany); the latter is usually a sort of reddish/milk chocolate colour, and (while it can of course also be stained) looks really lovely when just varnished.
They both share two important qualities, namely that they both have a very fine, almost invisible grain and that they are neither too soft nor too hard. The former is important from a scale point of view (too obvious or large a grain will look horribly out of scale) but also, and perhaps even more so, because it makes the wood easy to work with — to cut, shape and sand without it splintering or cracking. The latter is important, as too soft a wood (lime springs to mind), while very easy to work with, will be prone to marks and indents, while a hard wood will be just that: hard, i.e. difficult to cut and a bit of a pain to sand.
As for what you call "the darker lines inbetween", it depends on what type of deck they are supposed to represent, and at what scale you are working. With the exception (basically) of certain types of pleasure boats/yachts, those lines in real life are caulking, i.e. a substance of some kind (from old-rope-and-tar too modern synthetics) that has been pressed into the joints between the planks to make the deck watertight. Certain high-spec yacht and pleasure motor boat decks will not have caulking in that sense, though, but instead a variegated (stripy) effect created by alternating different types of wood in the planking itself.
If it is caulking you want to represent, one common method is to paint the edges of each plank, either with black or grey paint, or with a waterproof marker pen.Another way is to glue thin strips of black cartridge paper between the planks. Yet another way (but one I have never tried myself) is to use some kind of either paint or synthetic compound which is painted onto and pushed down into the joints between the planks after the deck has been laid. Excess is then wiped off to the extent possible, and the remainder sanded off after drying.
I have yet to try the third of these methods, so can offer no advice on it; of the former two, I prefer the cartridge paper. It is more work of course, but has the advantage of giving very neat and pretty caulking lines, and also of actually filling any minor imperfections in the plank edges. However, in smaller scales this method will tend to look out of scale. The cartridge paper I've used is around 0.225 mm thick, which at, say, 1:24 scale would represent a caulking joint of 5.4 mm but at 1:96 scale one of 21.6 mm. The former is well within the realms of the realistic, the latter I think not.
For smaller scales I would thus be more inclined to paint the plank edges black with for example a marker pen (test its waterproofing qualities on the wood you will use first, though).
Finally, there is the question of the plank fastening points. Again, with the exception of for example certain pleasure craft were no fastenings are visible, fullsize practice is usually for deck planks to be either nailed or bolted to the underlying deck beams (or, if laid on top of a metal deck, the underlying deck). To this end, a round recess will be drilled partway into the thickness of the plank, nail or bolt put in and fastened, and the hole then plugged flush with the plank surface with a short, round dowel or plug, usually made up from the same wood as the plank (although a contrasting wood could be used for decorative puropses on a fancy-work deck). The size of such plugs will vary, I'm sure, but something in the region of an inch would probably be fairly common. In other words, at 1:24 scale, such a plug shuld be +/- 1 mm in diameter, at 1:48 +/- 0.5 mm and so on. In other words, below, say, 1:48 or thereabouts, it is debatable whether it would be worth putting in such detail; from 1:32 and upwards I think it adds tremendously to the detail of the laid deck if it is included. If sufficiently fine dowel cannot be found commercially, it is possible to produce one's own from square stuff with the help of a drawplate (or so one is told by i.a. Harold A. Underhill; I have yet to try the technique myself).
I'm sure others will come in with more (and better!) advice, but I hope that the above contains at least some food for thought …
/Mattias
Edited By Banjoman on 04/08/2016 15:01:29