Ruger No.3 in a 38-55

#1
Gentlemen.....
I have an opportunity at a Ruger No.3 that was originally a 22 hornet, it was rechambered and rebored to a 38-55. I have thing for straight walled cases and think it would make an awesome stalking rifle with cast bullets. It has had the front scope mounting block removed and a three leaf fold down rear sight installed. He did a piss poor job at putting on a fiber optic front site...it's too long and looks ghastly, but I am confident I can get a skinner Patridge sight to work far better. The owner claims he shot it and has several 38-55's, he does not know who did the work on the rifle, but it all looks good aside from the front sight. Could I have your thoughts and comments on the rifle? Is there anything to look out for on the 38-55, I have heard twist rate and chamber dimensions vary a bit, He claims it is a true .375 diameter bore and has only shot cast in it. Please offer any insight you might have and what else I should perhaps look out for or be aware of? Thanks for your time. Here's a couple of pics .

Thanks
 

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#2
If it's a true .375 bore, odds are it was rebored by JES. I have a Marlin 336 done by him and it's a tack driver. I use Starline 2.082" cases and an Accurate mold, 38-250B, sized .377. My most used load is 10 gr Universal (or Unique) for 1220 fps, but can go up to 1600 fps with either 4198 or 3031. There are heavier loads but I have a glass shoulder. I wouldn't think that steel buttplate on the #3 would be much fun at 18-2000 fps.
 
#3
My experience is limited to one rifle, a Sharps Borchardt which was a 45-70 military rifle rebarreled to 38-55 by Axel Peterson an old time Denver gunsmith. I acquired the rifle in 1965 and still have it. I see no reason why a Ruger No. 3 in 38-55 should not make a great easy to handle hunting rifle. However, I do think, the work done on it, would only diminish the value and not enhance the value.