I decided to just shave off the initials since I'm going to finish the stock. I removed the old oil with 91% Isopropyl Alcohol using a paintbrush and rag. Cleaned the checkering using the same and a rifle cleaning nylon brush.
Then used a 1" wood chisel to work down past the initials. Using the wood chisle made it easy to follow the original shape of the grip as it was not flat. After I got the initial out, I followed using carding steels to smooth out the cuts, blend it in, and brake the edges. I then burnished everything with a piece of card stock.
I'll be steaming the dents next and after cleaning it up and de-whiskering it with bronze wool.
Attachment 103227