After lurking at the surplus store for quite some time, I stumbled upon the find of a lifetime: A pair of JBL 4312A speakers.

They were in pretty poor shape – it looks like they were dragged quite roughly on the floor. I was able to restore it to a pretty nice state after some sanding, waxing, and oiling.

Photos

Sanded with 100, 220, then 400 grit.
After some final sanding and a wash with mineral spirits.
Close-up of the walnut veneer.
I had to steam out some dents using a clothes iron.
After applying a coat of finish. I used Watco Danish Oil in a slight walnut tint.