These are JUST THE TYPE of grips you want to try and restore!! This way if you fudge them up, you will not feel bad since they were "junkers" anyway. If you are successful in making them look good, just think how great you will feel. You will not have the pressure on you to make them perfect and will not be afraid to experiment on them. Practicing on grips in this shape is a perfect way to gain experience. I am quite confident and proficient with most Gun Smithing tasks, but restoring wooden grips is a new venture for me, and I am still in the learning, experimenting and OOPPPPSSS process right now. Go for it and don't forget the before & after photo's!!
I agree with Chief38: I had a similar set that I stripped, went back over the checkering with an inexpensive Dembart cutter from Midway, touched up some surfaces with extra fine sandpaper and steel wool, and then treated with several coats of Watco Danish Oil. Really happy with the result, and a relaxing winter project.