I like the micarta due to its weight and toughness, but don't have it on any of my hunting knives. But I have a couple of friends that do.
To seal their micarta handles, they went to one of local woodworking stores and bought water thin super glue. They removed the scales from their knives, and applied a liberal amount over clean, dried handles.
It wicked right into the handles, and the problem with blood stains and smell was gone. A small piece of 220 grit sanded off any excess. It can easily be touched up, as well.
They saw this method on a hunting forum and since trying it they have been very pleased with the results.
Robert