I just did this last month to a friends strat. I'd advise against the dowel method. I vote for the toothpicks and wood glue. Cover the interior surface of the hole with glue, and cover the tooth picks with the glue too... then put the picks in the hole, then screw in the screw (minus the felt washer) immediately and let the glue set over night. The toothpicks and glue will mash together against the inside of the stripped hole, and you'll have new solid maple threads. I read this method over on acapella for repairing stripped neck screw holes. I tried it and it works very well. Just like the guy above said. Pack them in and break them off... but I would add that you should screw the screw in while the glue is wet to compress the wood and glue together and form new threads!!!
I could just bearly fit 4 toothpics in when I did it. Only use wood glue because it won't stick to metal. I tried match sticks, and they didn't work cause they're a softer wood.
The thread over on acapella stated that doing this with wet glue was stronger than the dowel method and superglue because he broke the screw when overtightening, rather than restrip the threads (destructive testing

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