I think 'fumehappy' is right to see this as an interesting challenge.

When he removes the Cheek Pad and Black Paint from the stock, there may be a very nice Mannlicher Style stock with wood worthy of refinish and a more traditional butt-pad.

Bead blasting the paint from the metal and putting a matt 'blue' finish on the metal might look good.

I like Mannlicher stocks and think there is potential for a nice Krag sporter, under the paint.