Alright, I went out and got the following:

Miniwax Mahogany gel stain
220 Grit Sandpaper
400 Grit Wet/Dry Sandpaper
Cloth Pads for stain application
Boiled Linseed Oil
Mineral Spirits

I just finished applying stripper to the stock.
What I would like to know is, what is it that the Chinese use on their stocks to give them a shiney hard finish. Understand I just want to make sure I have this finish as close to the original as possible (matching serials and all).

I suppose what I am asking is, what can I use that'll duplicate the original or even possibly emulate the orginial.

Boiled linseed oil is what I keep hearing.

Thanks!
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Me again,

Boiled linseed oil won't give you the original type finish. It is more of a satin type of finish, like on American military arms like the M1 Garand. You really need a thick orange shellac or something similar to get the original finish. Also, I think mahogany is going to be too dark of a stain to duplicate the orangy chinese look.

You might also try a high goss tung oil. It will take several coats to get the right look, but it might work.

Just remember patience is the key to a good job. This should take at least a week to do. Don't try to do it in one night, it won't turn out well.

455SD,
  How about some sort of Minwax Fast-Drying Polyurethane spray (supposedly standard dry doesn't jive with mahogany finishes).
  I'm thinking one single coating a night for about 7 nights sanding with 2000 grit wet/dry between coats will work.  You know what you're talking about, so I'm going with what you say. No pressure, eh? -Thanks

Stay away from any Minwax all-in-one-urathane-overnite stuff. Their stains are pretty good but their finishes leave a little to be desired.

To duplicate the original finish I think Id go with a reddish/orangy stain and the glossy tung oil. After one or two coats of stain(to the desired shade) apply the tung oil like it says on the can. Steel wool is all you'll need to rub down between coats. Don't worry about the 1000 grit sandpaper and stuff--it's not a car. It's really doesn't have to be real smooth, the chi-com SKS is not known for it's beautiful wood.

You might do a practice run on a scrape piece of something before you get too gung-ho on your stock. Just to get a feel and see if it's the look you are looking for.

I don't know about the finish,  but ARE YOU MY DAD????     LOL

Hey, I'm just a guy who has refinished an assload of SKS stocks. At one time a guy could buy as many SKS's as he liked for $39.99 a piece.

Hey, I'd like to keep this in perfect condition, it's my baby hom

I've got a picture of it, I know there exists different shades, etc.  Here is a picture of mine:

http://www.vzavenue.net/~mrequivocal/sks/skscolor1.jpg

Just try and tell me it's ugly

I'm not saying it's ugly, but I'd keep it away from the russian guns.

With the lacquer, how will it stand to up to the rain?  How will Shellac stand up? I sometimes do take it out while it's sprinkling/raining mildly.  The older finish just beaded up and any water just ran down it.

I'm not real sure how it does with rain. The tung oil will be rain resistant a lot like the lindseed oil. Enough coats of anything will repell water.