Ok, I have some good, bad, and horrible news...
The good: It fires and the patched bullets cleaned a metric ton of junk from the bore. I mean raised rust, copper fouling, and the darkness about halfway down the bore is gone.
The Bad: This barrel is pitted, horribly, I took a picture but it doesn't show the pitting very well, basically looks like the moon surface in there.
The Ugly: This rifle shot 10 factory jacketed loads I had laying around, 180 gr Federal, at 25 yds it was sending the bullets out into a 5 inch group with obvious yaw. At 50 yds they did not hit with any regularity on a pizza box size target. They were everywhere on it, still with obvious yaw.
So right now I have a historically important paperweight, it just wouldn't shoot. If I buy another 1903-A3 barrel and have it popped up to 338-06 I can save the barrel on the rifle and be able to go back to original. I think this is the only way to make this rifle a shooter without compromising it's value.
I may be able to find an old barrel at my smith that is capable, I also know a few guys that may have one lying around. What is your opinion guys?