This is my 3rd attempt at posting a reply to this thread, had one going last night and forgot to copy it before submitting it, it's somewhere in cyberspace now. I just tried again a bit ago, copied it, the decided to add a link, when I copied the link, I overwrote the post that I copied and then when I submitted it, I got the SMF cannot connect to database error so my post went off into cyberspace again!
Anyway, a rechamber to .458WM may be a moot point since the rim cutout of the .45-70 is larger than the rim of the .458WM.
Even if it will work, the SAAMI MAP of the .458WM is
53kcup which is much higher than that of the .500S&W at 50kpsi, and would push SB2 frame strength to the limits, might not last long.
http://www.frfrogspad.com/miscellk.htm#pressureA far better choice IMO, would be to just throat the .45-70 Handi/BC so bullets could be seated longer providing more powder room and subsequent less pressure, or rechamber to .45-90 or .45-100.
Even max levergun loads have too much recoil for most shooters, so I would recommend shooting some heavy loads in the .45-70 to see if you even want to go there, here's some data that will make most .45-70 shooters quite gun shy, if you like a 525gr BTB at 1800fps, then you may appreciate doing more along this .458WM line of thinking.
Tim
http://beartoothbullets.com/open_sight/archive_open_sight.htm/21EDIT: SAAMI MAP link added.