All - I decided to see what I could do with a couple of my Service Grade M1s. Very good shooters, with "bleh" stocks. Both stocks appeared to have the very basic, brownish, single coat stain that looked and felt as dry as chalk.
I decided to work the two stocks differently. The first was a more "minimalist" approach, basically to see how much better it would look with minimal prep and minimal work.
The second I took a more in depth approach. I'll describe each further hereafter.
First, here are pics of the second stock to show how dry and generally unattractive it is. The first stock was almost identical. If anything, these pictures show the stocks much better than they were.