Parker,
Yes I agree. But, does he have a well made properly heat treated action? He has a K98, perhaps wartime make, perhaps made in a factory using slave labor while bombs fell overhead. There is no way to know for sure. He could pay more money, and have the action checked for cracks with a magnaflux, and have the exterior checked for heat treatment and hardness, but all of this gets really expensive. All to make an old military rifle into a .308 sporter. It doesn't seem worth it.
You are right about properly made mausers. The FN commercial mausers of the 1940s and 1950s were made with the same basic type of metal and heat treatment process as the military mausers, but under extremely well controlled conditions with highly skilled craftsman. Those actions can handle the high pressure short action rounds.
I guess the question for him will really come down to whether he wants to spend another $600 or so on the rifle, just to end up with a .308, and hope that it ends up feeding smoothly. Really good mauser gunsmiths, such as yourself, are hard to find these days.
Personally, I would just enjoy the rifle for what it is. There are plenty of quality .308 mausers out there, for around $500 to $600.
Best regards,
Mannyrock