I've handled a couple and they are about as long and heavy as the Ljungman. The sights are military and if you can get 2-2.5" at 100 yds with mil-spec ammo you should be able to do better with quality sporting ammo, so yes that is serviceable. The cartridge is more than capable for Whitetail, Bear, Hog and most anything on the North American Continent but you would be luggin' a big ol rifle around the woods and if that's your preference, the SVT-40 would be as good a choice as any.
Most often the rifles in 7.62x54R are found with .311 bores. HTH.