While you will find you-tube videos and old posts on this, it is a pretty poor technique that doesn't really stabilize the wood. Trust me, a pint of Minwax, acetone, a mason jar, and a brake bleeder is far from the equipment needed to stabilize wood.
It is best to have your wood stabilized by one of the professionals using real mono-acrylic resins. The Cactus Juice treatment is somewhere between the two in quality. It isn't as good as having it done by K&G or WSSI, but better than Minwax.
Even better and probably more affordable for the hobby user, is to purchase already stabilized wood from One of the many knife suppliers and wood sellers. The exchange has many sales threads on great wood that is stabilized and ready to go. Ben Greenburg, Mark at Burl source, and several other members here sell top grade handle woods.
As to which is better, wood will have problems that synthetics don't Micarta is one of my most used handle materials. It is easy to shape and polish for even the novice, and safe to work with ( you should wear a respirator with all grinding and sanding, anyway). CF is more dangerous to the lungs and skin and needs better equipment and skills. I don't use it in my shop anymore. It isn't worth the risk and trouble.
G-10 is a bit safer than CF, but I don't use it often for similar safety reasons. The glass fibers have to be carefully extracted and everything cleaned up well.