Has anyone here built their own laminated rifle stock?

I have an el cheapo Savage .22 LR with a synthetic stock. I was considering making my own laminated stock for it and wondered if anyone had any experience in this sort of thing. I'm considering using alternating ⅛ inch layers of possibly walnut and mahogany or possibly walnut and padauk. I suspect type 3 waterproof glue would be a good idea. Anyone have any first-hand knowledge of making this sort of stock or any ideas for wood combinations?