Matt,
Take drdougrx's advice, and keep your's original. On the on-line auction sites, you should be able to make a profit on your's, if it is un-altered and nice. Back in the days belted magnums were new, you could only buy European and British works of art. A bare magnum action would cost a common man about two months wages, and he still had to buy the other componants, and pay a rifle smith to put things together for him.
Soon, the shooting world turned to the 1917 for affordable Magnum rifles. So much so, that it was often called "the poor man's magnum". It remains the poor man's magnum to this day. There are lots of nice custom 1917 conversions available at really low prices. Case in point,
http://www.gunbroker.com/Auction/ViewItem.asp?Item=104138929 .
If you really want a sportered 1917, you simpley can't justify building one yourself, when there are many customs available for less than an original 1917's value.
Oh yes, and the 1917 does NOT cock on closing. It half cocks on opening, and finishes cocking on closing. Because it was military, the striker spring is far stronger than it had to be, and a lighter spring really helps the action. Of course, that is just another expense added to the already expensive conversion price.
Can a 1917 or Pattern 14 be turned into an ideal sporting rifle ? Probably, but at a far greater price than a good sporting rifle costs. Are they a POS ? Hardly. As Mike Britton pointed out, "They are what they are". A very durable, robust, dependable, and accurate battle rifle, that served us well in two World conflicts. They were the AK 47 of their day. A low cost, easily massed produced, yet very effective weapon.
Thank God the British came up with the design, and contracted Remington and Winchester to build them a bunch, so the tooling was in place when we got caught short of guns. Without them, we would have been sending many of our troops against the 98 Mauser armed with Krags, Rolling Blocks, and maybe, Trapdoors !