RDD,
What a fine project, and what lucky daughters!

Until experts post, you can have my $.02

Stock weight removal - figure .3 to .4 oz/cubic inch of wood.

You can add highlights (darklights is more like it, following the existing grain to faux mineral lines) using various wood coloring stuff; oil artists paint, sharpies, stains, etc.

I've never done the Ithaca - Perazzi CC touch up thing to color metal. If the steel will 'take' a cold blue, then it should be fine.
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You settled on the Stoeger and didn't axe...but...I think anything you're going to spend a few years noodling with should be a bit better as a base. It's easy to fall out of love with a project, especially once gun-guts are exposed as fairly horrid. I don't know what a used Citori or older B 680 .410 goes for, so I may be totally full of itshay. again.