Thanks Bg!
Got two coats of sealer on, wet sanding between coats. Sealer is clear urethane 70% urethane 30% turps. This lets me see scratches and other stuff that’s yards to see when it’s just bare wood. 

That’s going to be a masterpiece of craftsmanship!

Thanks for the kind words folks. 
Frogged, thanks. The welding was done by Peter Nagel of Restorative Welding, (You need to Login or Register to view media files and links).
He did a fine job with no undercuts in the welding. Before sending it off for welding I made four, light press plugs of mild steel, that sat about .050” below the surface of the receiver. I drill the four holes first to remove any vestiges of threads. Regarding the discoloration after bluing. This is caused by differing grain structure at the weld site. The receiver needs to be “pack annealed” prior to bluing to prevent this discoloration. I’m going to case harden the receiver so I don’t have to “pack anneal”, or so I think, but I’m going to talk with Peter to make sure that will work.
Thanks again!
Cheers Richard

Robert, thank you for that info and feel free to post some pics of that Favorite that you mentioned. While the finish on the stock is hardening I’m starting to strike the bbl. I’m starting with 280 grit abrasive cloth, I’m out of the paper wet or dry grit size I need. The tool I made has a piece of pvc pipe split down the middle with a thick piece of leather lining the pvc. The first bbl I used it on turned out super with not a ripple or wave showing. 

Now I'm going to have to build another tool! For years I've just used schedule 40 PVC and put sandpaper inside like your tool, but held the PVC in my hands. I use a piece about 9.5" long so sandpaper fits inside and extends a small amount at each end.
But that handle you use looks like it would make things much easier to hold while hand polishing round barrels!

For flats I don't use a tool. I have a piece of 1/2" thick aluminum that is cut to sheet size for sandpaper, and I give it a shot of spray rubber cement and stick a sheet to it. Then I polish the barrel by moving it vs. moving a tool across the plate. It's easy to get the finish mirror smooth, and I find it also easier to not roll the barrel like I might roll a tool. And it lets me change sand paper less often, having the full sheet to work off.

For round barrels, I use a similar, but very crude tool.  I take a hardwood 1x4, cut a couple of blocks about 8 inches long, and clamp them together.  Then, drill a hole centered on the parting line between the halves just a bit bigger than the barrel diameter.  Then, just hold a piece of wet/dry on one half, and use it just like the more refined tool shown above.

I polish octagons with a hard wood block, used lengthwise along the barrel, so as to minimize rocking from side to side and consequently rounding the flats.  Handles off to the side like the round barrel tool shown cause rounded flats unless you're extremely good at watching the cut and correcting as the tool tips.  You can also polish octagons by gluing a sheet of wet/dry down to a cast iron machine table, and move the whole barrel back and forth lengthwise on the paper.  the weight of the barrel and the long contact length help keep the barrel flat and make for a good, consistent cut.  I also had an unusual and somewhat rare sander that worked well on octagon barrels.  It was a 3" or so drum sander in a table, that took full sheets of sandpaper.  You could set the drum just a few thousands above the table, and pass the barrel lengthwise over it, for a really decent sanding job.  I have since passed that tool on to my son, who uses it as a flat sander for woodworking.  I found I can polish about as fast by hand as with the machine, and I like to see the finish as the wet/dry paper cuts.