After seeing what refinished stocks and grips looked like in photos here, I finally gave it a try myself. I posted some photos under the 1876 forum too, but here I'll show my revolver grips.
First of all, I'm not perfectly satisfied with how they look, but they're certainly better than the red-tinted plastic coated state that they originally had. I stripped the finish with Citristrip and dyed with leather dye diluted with alcohol (the dye was diluted with alcohol, not me). I then finished with several coats of Tru-Oil.
The 7 1/2 inch gun is a Uberti. The 4 3/4 inch gun is a Pietta. They seem to have used different woods. I forgot to take a "before" photo of the Uberti, but we all know what those grips look like. The Pietta grips were dented and I left the dents in for character. The color didn't come out very even on those grips, but that kind of created a worn look to go with the dents.
I'll post a picture of both guns after the refinishing in a follow-up post.
Overall, they are certainly better looking than they were when I got them. There may be more refinishing in my future...
CC Griff