What I've done
I've helped to restore the rails on 2 GCs, I don't recall what series they were, but here's what we did.
Get a belt sander with 80 grit Aluminum Oxide belts, and carefully sand off the top two layers of the laminate. The top layer is the wood grain, and the second layer is reddish in color. Sand until all the red is gone. Once that's done, clean up with tack cloth. Then, the best part. You can order whatever type of wood veneer you happen to like. Cut the veneer into strips that are extra long and extra wide, just make sure one of the long sides is good and straight. Line the straight edge up with the edge of the spline pocket and carefully glue the veneer down with good quality contact cement. You'll need a good roller to get the bubbles out. Trim along the outer edges carefully with a razor, or if you have one a rotary tool with a bearing guide. After the glue dries you can still work out lumps and bubbles by carefully using an iron. Finish with clear urethane.
One of the most important steps will be using a square to mark a line from the center of the sights around to the back and recording the distance to the center of the sights to either edge on each rail. It's hard work, but the results are beautiful and you can have a one of a kind GC when you're done.