i use a very simple method of refinishing gunstocks. learned it from a friend of mine. first of all, i use only the sanding needed. less is more to me. i sometimes do use a paint stripper if needed. once i am to the bare wood i like to allow it to dry at least 24 hours to make sure it's completely dry.
after using a tack cloth, i start with the first application of stain. i don't allow the stain to dry, and wipe it off with old t-shirts or old flannel cloth. i aplly as many coats as needed to obtain the level of darkness that appeals to me.
i then allow the stock to dry at least 24-48 hours. after which i rub out the finish with Johnson's paste wax for wood, using very, very fine steel wool. i do this several times, then rub out the finish with very soft cloths afterwards. the finish comes out very similar to a satin finish when done. Tung oil can be applied if wanted.
i have used this method with great success for many years now.