Dave,
Can you carify "leather covered?"
To most that suggests a pad completely wrapped in leather, seamlessly down the sides and tucked between the base and the stock. The pros charge $250+ for such a job. It's basically an artsy affectation and thus the cost, though it's beyond me why it should take a pro 5 hours to make one.
Is your pad a rubber one with a piece of leather glued to the face? I've seen those "leather faced" ones on early 680 Berettas. If so, it's no more valuable than a new $30 Pachmayr and that might figure into how you approach the job.