This is what we do here at my house. I've restored over 200 pipe using these methods and haven't had a problem yet.
Seperate the stem form the stummel, then clean it with alcohol to remove any wax and surface soil. Suspend it in 100% straight bleach using a pipe cleaner inserted through it to keep the tenon out of the solution. You don't want to change the dimensions there.
Ream the bowl back to the wood and insert a pipe cleaner in the smoke hole. Fill the bowl with kosher or sea salt (not iodized table salt) and saturate the salt with grain alcohol. We use an eye dropper. Cotten balls will work too. Lawerence's Ezra Brooks or any other burbon, rum, gin or other adult beverage will work only if you are cleaning a pipe that has already been sterilized. The adult beverage needs to be at least 150 proof to kill any left over germs. Keep the salt damp with the alcohol until it isn't pulling any more color. If you think you need to replace the salt, do so.
Once the tobacco chamber is done you can start on the morticeand smoke hole. Alcohol soaked Q-tips and pipe cleaners, both regular and bristle are required. Clean the mortice and smoke hole until no color comes back.
You should periodically check the stem. It will be ready for restoration when it appears flat black. When it does, remove it from the bleach and rinse it well in cold water. Any logos should be protetred with a dab of petroleum jelly. Reassemble the pipe and you can now buff the stem and bowl with any of the afore mentioned products until you are satisfied with the luster/shine.
Here is a tip I got from Tim West. If you restore enough pipes, you will eventually come across one that has that old musty smell that the S/A treatment won't get rid of. That is mold and you do not want to smoke a moldy pipe.
Pour about a half thimble full of alcohol into the bowl. Cover the bowl and mortice with thumb and finger. Shake the bowl around to coat all the surfaces then set fire to in. Allow the fire to burn out. If the interior is still wet, do it again. When you are done, the mold spores will be dead and gone and you will have a fresh smelling pipe. DO NOT do this with the stem attached.
The most important thing is to have fun and enjoy the fruits of your labor.