flmason,
On a milsurp rifle like your M-N, just enjoy shooting it. Since you handload, you should have a ball and will probably be surprised at the accuracy you get. Due to the cost and hassle, you would be better off searching out a replacement from the abundant supply on the market rather than having the barrel set back (remove certain length of barrel from shoulder, re-thread and rechamber). Not familiar with the rifle, but setting back bbl may also cause problems with retaining bands, etc that may be postioned at fixed points on barrel? Some bores that may not look pretty inside can be amazing shooters. Never know til you shoot it.
Lappers - please educate us by describing your barrel lapping process, the type of grit you use, and how you remove it from the lug recesses of the action?
Should we be discussing truing up receiver threads, bolt and action faces, and lapping in lugs when on a topic for a low end (budget) shooter? For someone looking to upgrade or replace their barrel, this is a worthy investment when taking it to the next level for sure.
I guess we are serving a useful purpose by warning people of the inevitable all-consuming, expensive, obsessive quest for accuracy improvement that develops when you start down that road...you have been warned!!! Save yourselves while you still have the chance!!