And how would one go about re handling an SRK?
I want pics and step by step instructions!
About the same way you'd rehandle anything else

I have a Trailmaster I'm in the process of doing this to; I got the idea here:
http://www.sunrisecustomknives.com/repairs/repairs.html
Drill out the brass thong hole tube, or cut it off after the Kraton is loose (easier). The Kraton handle material cuts easily with a razor. Just slice slowly around the seam of the handle and it will come right off. Be aware, the guard on the MS and SRK is integral to the handle, so you'd have to A) cut the handle off very carefully, leaving the exisiting guard in place, or B) fashion a new guard to the SAME shape out of brass, NS whatever. Otherwise I don't think the knife will snap into the Kydex sheath like it should. I suspect plan A) wouldn't work too well, there'd be a weird fit and feel between the rubbery guard and a hard handle.
I'm going to make a new guard of nickel silver and use handle slabs of stabilized curly maple. The slabs will need channels cut into them to accept the tang, then will be expoxied in place with a NS pin or two for good measure. Probably use the existing hole in the tang for the lanyard hole.
While the knife is all torn apart, take a rat-tail file or similar and radius out the inside corners where the tang becomes the blade. They come from the factory at nearly right angles. It seems a lot of blade failures take place right at that point, and I've been told rounding out the transition releives a lot of stress. I've already done it to the TM and it was easier than you might think; also, I only "lost" an 1/8" of blade length, prolly less actually. The fun part is filing the face of the guard so it fits flush against the blade again.
I decided once and for all to re-handle the TM after a night camping, gathering/cutting/splitting firewood with it in a pouring rain. The whole time it felt like the thing was gonna take off into the woods every time I swung it, more because of the handle's shape than the material. On the other hand, my Master Hunter's Krap-ton handle is quite comfortable and secure so it may well stay as it is... of course, then it wouldn't match the TM :\
See? Ask me a silly question and I'll talk all day!