I bought a 1903 from the CMPs in 2004. It looked like it had dragged through every war in the 20th Century. With the cosmoline it was an ugly mess. After checking the headspace, I decided to restore it-to a point. There was an article in Rifle Shooter Magazine in March-May 2004 that gave me some ideas.
The rifle I received had a 5-44 High Standard replacement barrel, a circa 1930 nickel steel receiver, a 1903A3 bolt, a beat, battered, and ill-fitting Remington scant grip stock, a Remington replacement hand guard, a stripped upper barrel band, a stripped 1903A3 lower barrel band and swivel, a magazine floor plate that had been pinned shut for no apparent reason, a loose rear sight base, and a badly bent rear sight drift slide.
I refinished the stock, but left the character of some of the dings. However, I used linseed oil and combination of stains from Brownells. I improved the fit of the action to the stock. I replaced the mismatched and broken parts and added a reproduction 1907 sling. Hot Flash Refinishing reparkerized all appropriate metal.
It came out beautifully. It's not entirely authentic to the 1930 action, but it is a shooter. Good luck.