Just for fun, you could duplicate the pencil body, shrink it to 99.9%, move it forward just a little bit and apply your wood texture to it. Then do the same thing but re-boolean with a hollow cylynder leaving you just a narrow cylinder with the pointy ended lead. That should provide you the pencil lead when you retexture it. You may end up with visible edges and you may not. I don't know anything about UVMapping but from what I undertand, cutcopypaste is probably correct for a truly pure result.

-Kix