+1 for what Mike A. said.
In addition I'll add these comments.
LR Wallack was a reasonably well known gunsmith & did some writing also. If I remember correctly he has a chapter in the NRA Gunsmithing Guide on how to fit & chamber a bbl.
The .243 Winchester makes an excellent varmint rifle & with some of the newer bullets now available like the 55 grain Nosler Ballistic Tip you can load it to >3900 fps & it is better than it ever was.
Some people like it for a low recoil deer rifle loaded with appropriate bullets as well. I've never tried it for deer but enough people use it that it must work OK.
That looks to be a very nice rifle with good workmanship. If the bbl is shot out then rebarrel it to whatever you like, otherwise I would preserve it as is with the possible exception of a modern scope.
