Why go to all that trouble when Numrich(e-gunparts.com) has M38 stock sets for 62.95?
But, to answer your question, for someone with woodworking skills and the proper tools it would be simple. To those without the skills and tools I figure it would be just as easy to ruin a good stock.
Here's a stock set I got several years ago from Numrich to restore my bubba'd M38.