If you do want to try to duplicate the arsenal finish I have a big bag full of shellac flakes and could part with some if you wanted for a modest price.
I bought an M44 at a nice price coupla years ago. Metal is 100% but stock had about 30-40% of the shellac flaked of. Being the purist that I am, started doing some (alot) of reseach on trying to put it back how it was. Well, shellacing is fairly easy, getting it to look like it was is not. That M44 is, uh, very red right now.
Anyway, bought a 1lb bag of flakes from Woodcraft, enough to finish 138 Mosins, so if you want to go that route let me know. You'll still need to tint it with some leather dye and then probably strip it a few times before it's just right.
Or go the easy way like everybody else.