I'm thinking about stripping the finish on this guitar

and restaining it with a black dye. Has anyone ever done something like this?

My main concerns are that I'll have to remove to much of the wood to fully remove the red stain.

Will the stain colour the binding too?
It looks like a really cheap guitar with a laminated top, back and sides to me. This would basically make attempting to refinish with a dye completely pointless.

"Show me war; show me pestilence; show me the blood-red hands of retribution..."