Surplus Springfield barrels were used as blanks for years for many different applications, due to the availability, price, and quality. 3 cents per pound was hard to beat for a quality barrel in the post war years.
Converting one to a magnum caliber was not unheard of either. Many a poor-mans bull gun was built up by re-configuring an 03 to shoot 300 H&H and 30-338 for long range target work. I built one up in .458 American a few years back for a guy that just had to have one.
There is no crime in re-working a sound barreled action that was previously "sportered", into what the OP wants. One can spend less and get a newer gun, but it wont be a Springfield either.
Personally I would not do it. Too much work, for what?? As stated eslwhere, a good 30-06 handload will get you to within 100-150 foot seconds of the 300 WM, with 2" less barrel.

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