I'm hardly a smithy, but I do dabble in refinishing furniture now and again.
The one rifle I did, I removed all of the hardware, rubbed the stock down liberally with fine sandpaper, and applied several coats of tung oil, with a bit of work with 000 steel wool between each coat. It still looked pretty good when I gave it away to a young shooter 30 years later.
I do what I can to take care of my firearms, and always do what I can to welcome a new shooter into the fold. The young man welcomed that old .22, and now he can go out shooting with his dad and "his own gun."