I recently refinished a Bulgy stockset for my Centerfire AK-74 using a similar method. I wrote it up to post it here an then saw this thread, so I thought I'd jsut add it on:
I did up a set of dingy Bulgarian wood using directions in a thread from SurplusRifle Forum. Candyman runs the stock care section there, and he's a wizard at restoring milsurp stocks.
Here's the before:
http://img.photobucket.com/albums/v714/radionicist/akwood.jpg
This is how the wood looked after stripping off the remnants of the old finish. I used KleenStrip, followed up with mineral spirits to remove all of the stripper. Then, after a day to dry, I did a scrub with acetone, let it dry again for a day, did a Fantastic scrub, let that dry overnight, then wiped it down with an acetone dipped rag. Why the extra steps? The acetone gets out much of the grunge, and the Fantastic (or similar cleaner) gets the dirt that is water soluble. Wood stocks hate water generally, and using acetone and straight cleaner avoids the problem of soaking the wood.
Next I prepared a RIT dye stain mix, using a combination of Scarlet Red, Dark Brown, and a hint of Black. I strain denatured alcohol through a coffee filter that holds the dye salts, and use a rag to wipe the stain on the stock. I let that dry, buff with steel wool to lighten or tone the appearance, and let sit for a few hours.
Then, I applied the first coat of boiled linseed oil by hand (though I wear gloves). I like to rub it in until the wood gets slightly warm. Here's how it looked after curing for a day:
http://img.photobucket.com/albums/v714/radionicist/akwoodafter.jpg
http://img.photobucket.com/albums/v714/radionicist/akwoodstock.jpg
I'll wind up doing three or fout more coats, and will buff lightly between coats to increase the glossy texture. The BLO will also darken the color a bit.
This is an easy finish to experiment with, and it delivers excellent results. The only drawback is that it takes time to do right. Give it a try!
Tony