I posted this on rimfire central forums as well, but there are many here who don't frequent that site, so this might be interest to someone here as well.
Remember this mod can be done to any trad stock. For heavy calibers I suggest moving to a thumb hold stock, although with a metal lag bolt going through the grip area into the origianl stock it should be strong enough for many centerfire lighter calibers.
Remeber this is what it looked like before:

(not mine, just a stock photo of the carbine stock)
Worked about two hours getting the bolt and holes drilled for the adjustable cheek rest and the hole for the locking allen cap screw. This is the trickiest part, and has to be done while the stock is still square stock for line up. You can't mold, sculp till these are done.
Then spent around two hours hand shaping the buttstock, cutout and grip on my sanding mandrel. Used drums and disc to free shape. Afterwards applied some bondo to the are by the grip so it flowed better and sanded back out. Will leave it like this until I take it to the range to see how it feels. Grip area will dremeled as well as fore end. The light bipod I welded up and fited to the rail.
You can just see the two plastic spacers in between the cheekrest and stock.