From what I've seen there are two ways to go. The overlay (which there are two forms of) and I'm not sure what to call it other than "direct applique".
On the overlay, you have a thin vinyl look of wood, almost like a cheap speaker cabinet. The other method is thicker and slightly padded with finished edges. This is the method I chose.
The "direct applique" method would most likely look like "factory wood". You have to disassemble the parts you want covered and send them to the jobber. This is ok as long as you XFire is NOT your daily driver, but it does look good.
Hope this helps, Smfry