I have used chemicals, but mostly I "scrape" all that old gunk off, get it down to bare wood, use a stain, if I'm going to use a stain, and depending on my finish I may not use a stain, then I will wet sand it again, use a Tack cloth, wet it again to raise the grain, Tack it again, wet and tack, etc, and then take it down to about 600.
400 is normally good if the grain is behaving, but sometimes I'll go to 600.
If I stop at 400 you can almost bet I intend to "burnish" that stock with a plain piece of burlap bag.
Lots of rubbing, lots of elbow grease, and well worth every hour you spend on a burnish.
Plus, with a good burnish you will have a waterproof stock once finished, you never have to worry about the weather, or if you dropped it in the snow or in the creek.
The actual finish itself, after all the prep work is done, is a matter of choice...what do you want your gun to look like, and today we dozens of choices....almost unlimited.
I have had good luck with about every good finish out there....if I had a good prep....
But never try to take short cuts on the preparation, I've never seen it pay off in the long run.
If you haven't guessed by now, 90% of the work in stock work, is the preparation.
The rest is gravy.
Uncle Russ....
Attached is a picture of a GPR that finished from a kit....it was also burnished.
Check out the "feathering" at the wrist....once I scrapped all the junk of the original stock there was a nice piece of wood underneath that. Unfortunately, I don't have a before and after picture.
It's amazing the nice wood we sometimes find covered up with that factory coating.