Mike,
The rails look to be in good shape. The builder of this rifle had an interesting solution (post to follow with pics) to guide the shoulder of the shorter round.
I am by NO means an expert yet, having build less than a dozen Mauser rifles. I am coming to the opinion that grinding the rails for the .308Win family of cartridges is overstated and not needed.
I have built two, .243's and three .308's. With zero modification to the action or bottom metal and MINIMAL tweaking of the extractor all have fed perfectly.
EDIT TO ADD: Any conversion I would do, would include rebarreling. A 9lb VZ33 defeats the purpose of using this action. A sub 7lb 7mmMauser or 9.3x62 would be the idea.
Last edited by Utah Shotgunner; 03/07/14 12:32 PM.