I received my CMP Special grade Garand this week.
It's beautiful. If I didn't know better I'd think this was completely new production. I plan to oil up the stock a bit, but beyond that the thing is fantastic. The CMP Special grade is where they take a receiver (mine is December 1942 production... oh man, the stories this thing could probably tell), refinish it, and then mate it to a new Criterion barrel (they have a good rep) and CMP stock. The other hardware is either new or refinished USGI. The result is basically a brand new rifle... there isn't much collector value to one like this, but that means I can shoot it without any worries.
I've also read wonderful things about the folks buying the Service grades... I may have to put in for one of those sometime next year.
The paperwork required is a bit more than buying a gun from a local FFL and the wait can be longer than one might like (mine was about 6.5 weeks from mailing the forms off to receiving everything at my door), but the result is a beautiful rifle that's going to be a great shooter.