I'm also a big fan of the Birchwood Casey cold blue. I reblued a Model 62A Winchester several years ago, and it looks GREAT!
Birchwood Casey makes a Rust and Bluing Remover that does a great job, but you will still want to sand the metal to get out dings and scratches and provide a good surface for an even blue. I used 600 grit wet paper to sand off the blue, and to heat the metal, I used hot water in my laundry sink, with dish soap as a degreaser. Rinse under hot water, apply blue, wash again, buff with #0000 stell wool, repeat. I did about 6 applications and it has a lovely deep-blue (not black) finish which is not quite as glossy as the original, but looks "factory applied". Very cheap to do.
Birchwood Casey makes a Stock Refinishing Kit which is excellent, though you'll want to buy extra sandpaper and a flexible sanding block. Sand down to about 400 grit, dampen the stock, and buff off with fine sandpaper or steel wool. Apply the stock filler and stain, that stock filler really helps! Then finish with as many coats of Tru-Oil as you can, buffing between coats with steel wool when dry. After the final coat, buff once more with fine steel wool if you want a stock with no shine. These products really make your stock look fine.
I don't generally like chemical strippers, but I do find that they are the best way to strip a stock. Sanding the old finish off can cut edges off the stock or create flats on rounded surfaces if you're not very, very careful. Just use a good stripper and steel wool.