I have refinished all of the stocks on my M-1 Garands (5 of them). I could care less about the collector value nor the cartouche whatever.
My guns are all shooters, no safe queens waiting for the value to go up.
One of my Garands was made in 1942 with all original parts. The first thing I did when I got it was to put new rear sights on, new barrel, new stock and op rod.
Shoots great now. I use it for CMP matches.
All of my other guns I also refinish the furniture. I do not like it to shine like a mirror or have a very slick finish. I like to grab them without my hand slipping.
I have all wood satin finish using linseed oil and rubbing it in with my hand until I get the desired finish. Time comsuming yes, but very durable.
Oh, I also have a WWI M-1911 in original condition that I put a new barrel in, Pachmer grips and refinished it with GunKote.
The lack of a grip safety gives it away as not being a M-1911A1 etc.
So I say yes go ahead and refinish the stock, but please go carefully, because what you take off you can't put back on.
Work your way up on the sandpaper grit and you should be alright and stop when you like the feel.