Again thank you everyone for the responses, I'm really liking the knowledgeable, helpful attitudes here. Sorry for the delayed response on my part, I work a 3x12 schedule at present.
Leerwerker and Pino, I went with an approach similar to yours; I used a damp sponge and the round bit of my bone folder and tried to slick it down as best I could. It came out pretty well I think. It's got a still semi-rugged appearance, but feels mostly slick, albeit porous, to the touch. For this application I think it will do quite well. It's a sheath for a Ka-Bar USMC knife that belongs to my father. (Also did a stacked leather washer re-handle on the knife.) My grandfather was in the Navy in WWII and traded a marine for it as I'm told.
I don't have any pics yet, but will be certain to post some once it's completed! I'm quite excited about it.
Darc and Rick, thank you so much. I think this was the look I was initially thinking of, but I got impatient because the fam and I are headed to the coast to see my father in less than a week. I'm hoping to have it ready to hand over by then. I must remember this method in the future, it can give items a really nice touch.
-Beans