The following was entirely too large for an IM, so I cut and paste it here. Please forgive me dogcaller, I am not trying to hijack your thread.
Dan:
After several stock refinishes I went back to the fellow who did the K31's you see in the picture. All that I could get out of him was a mumbled reply about "...a light coat of polyurathane."
Here is his simple secret and my experience together:
First, buy a boatload of sandpaper in 250, 400, 600, and 800.
1. Cover any cartouches with masking tape or a sticker to remind you not to buff them out.
2. Degrease the stock as much as you can. (I have found that simple green foaming organic grill cleaner works great on grease and cosmo, but with K31's cosmoline doesn't seem to be a problem. Be sure to rinse well and let it dry before sanding.
3. Steam out the bumps and scratches by using your iron (on high) and a wet washcloth. Put the washcloth over the wood and press firmly with the iron, moving it back and forth. Don't be shy with the water. The steam will help lift out the scratches. It helps, but can't work miracles. Let it dry overnight.
4. Sand the wood with the 250 until smooth. Spend more time with the 400 and 600, then finally "polish" it with the 800. Feel free to wipe the wood with a damp cloth between sandings, this will raise the grain and ready it for the next round of sanding. Do not do this toward the final sandings. Don't be tempted to use steel wool like some folks suggest. You will get miniscule slivers of metal in the wood grain that will be there forever. Some have suggested using the 3M scrub pads to avoid this, but I have not tried that. The 800 sandpaper puts on a nice polish. This step can take several days of hanging out alone the garage breathing sawdust and catbox fumes. Relish the quality alone time.
5. Once you are done sanding, wipe the wood clean with a dry terry cloth or cotton rag. Don't worry about the little bit of sawdust still left in the grain of the wood.
6. Use a quality polyurathane like Minwax Fast Drying Satin (hint). DO NOT FOLLOW THE DIRECTIONS, they are probably for furniture finishing or something. Start at one end of the stock and use a clean rag to wipe the finish on a section with a light coat. Rub well to get the sawdust from the grain. When you are done wiping it into a 4 inch section, wipe it off immediately using a dry part of the cloth. Move on until the whole stock or part is done. Do not apply a second coat like the directions say.
I have used this to refinish an old A2 Springfield stock. It turned out just as stunning as the two K31's. This after some somewhat less than stunning stock refinishing projects for some relatives.
Enjoy.
-White Horse