DC,
Depending on condition, and caliber, they seem to be in the $650-800 dollar range. The .375's seem to in much higher demand than the .458's.
As to reaming it out to the Lott, sure, but if you look at one chambered in .375 H&H, you will see how much metal has to be removed to get a full length cartridge in there. It would be to your advantage if this rifle was a .375 for that reason, but it can certainly be opened up, and I have never heard of a .375 Whitworth coming apart.
When you put the mercury comp in, take the time to reinforce the stock. A couple of crossbolts, a wrist pin, and a proper glass job will go a long way to keep your stock from cracking.