Raimey,
Even though I wouldn't buy a 30-06 drilling because that is a rimless cartridge, a little AP ammo wouldn't hurt, but it would be more appropriate in the Springfield or M1. Regarding Tracer ammo, I wouldn't use it in any of my rifles. In addition to the fire hazard, I don't know how the tracer chemicals affect barrel steel.

HalfaDouble/Raimey
We used to buy M2 Ball ammo for $6 t0 $7 a hundred rounds, more than $1 a round doesn't seem like much of a buy to an old guy.
Mike