Igm270: this became a concern for some folks who were using the older Spanish Mausers re worked from the original 7mm Mauser caliber to 7.62. Some were concerned that the higher pressures of the 308 hunting loads, which may run to 60k psi, would be too much for those Mausers. Truth is, the Mauser action was proofed to higher pressures than that.
Those mausers were Model 93s or 95s I believe. Your Israeli Mauser is a 98 - much stronger action. If this rifle feeds and chambers the 7.62 round it should do the same with 308 hunting loads and I don't see a need to set the chamber back or rebarrel. JMTCW. Mikey.