Very interesting information, thank you. My stock has the problem you mention regarding the wood around the band. The wood forward of the band had been gouged out pretty bad allowing a lot of play. Not having any experience with woodwork and having a low budget I filled it in with wood dough and that seems to have held up pretty well (although by no means does it ook pretty). The fore end was also pretty warped, but a bit of sanding prevented contact with the barrel.
A couple of things I'm wondering is if an armorer, when replacing all of the wood from a No. 5, would use wood that had been defaced in any way (such as carvings with a knife) by the user of the rifle the replacement wood is coming from, or was that simply not a concern? I am also wondering if the use of the center sling swivel will affect point of impact when used with a shooting sling (I am assuming no since that appears to me to be how it was meant to be used) and if it needs to be taken into consideration when bedding the stock, as I intend to do this sometime in the near future?