I have one on my Chicom SKS. I can't remember the brand but it is very similar. It does not affect accuracy at all but it does lighten up the rifle considerably. Oddly enough it doesn't seem to increase recoil, at least to me, probably because it makes the rifle more "front heavy" compared to a wood-stocked model. I can't tell you about the bayonet as I removed mine (spike-style) when I bought it. I love mine and enjoy shooting it much more than a wood-stocked version.

PS: Before modifying any firearm make sure that you follow all applicable laws and regulations, no matter how stupid and ill-thought out they may be.