Like a good Italian sauce...
every recipe is a little different.
Here's mine:
if the cosmoline is soft enough out of the box, take a rag that you dont want anymore (paper towels fall apart) and rub/scrape by hand HARD. just get the bulk of it off by scrubbing with a dry towel/rag.
If the cosmo is not soft, then take the rifle box it cam in and line it with aluminum foil 'shiny' side up. Put the rifle in it (I do muzzle down, but i doubt it matters) and set it to face the hot sun. Come back every once in a while to see how much melts off. Keep wiping the softer stuff away. Dependign on how much cosmo is o there, you may need a new towel by now.
when you are satisfied with the bulk of it being off, then disassemble the rifle and seperate metal from wood. Some parts of SKS cannot be separated, just follow a good plan like on surplusrifles.com or something.
Kerosene works, sure but acetone is much MUCH less toxic. I fact, its not very toxic at all but it is falmmable and the fumes are heavier than air so use it outside. (i've got a cool anecdote about acetone, remind me)
You can soak the parts in acetone (or wd-40 for that matter) overnight and the stuff will wipe right off. but I dont have a big enough tub. So I just get an old toothbrush and rag and soak in acetone and start scrubbing. Really doesn't take too long.
Oh, please wear gloves. Unless you want to spend another half hour cleaning your hands.
As you scrub and wipe, you will see areas that are amenable to q-tip, toothpicks, and even forced air (blower, lung power, whatever) to get it out of all the tiny places. Soon enough, you will have clean and bone dry unlubricated metal. Pt your favorite protectant on it. I do use he acetone in the bore, just like the restof it.
Now for the wood.
Acetoen will strip some finish, all of it if you try hard enough. If you are restaining the wood, then big deal. And there are better strippers than acetone. If you are keeping the finish, then use the acetone on a rag and wipe ONLY until you are happy with the look of the wood.
Realize hat there is still cosmoline soaked into the wood, and on really hot days may ooze out. Maybe not, but be aware.
If you strip it, then check out milsurpshooter.net under the subforum on restoring stocks on some ideas on stains etc.
Hope this helps.
C-