Can I assume there is some life left in this barrel?

[INLAND44]

Looks like the barrel has a "few" shots left in it. If I'm reading the wear gauge right it shows .3012. Bore diameter is .300 and groove diameter is .308 so the grooves have more than 85% of their initial depth. Correct?

How does 85% of groove depth left translate into number of rounds? Is a barrel "shot out" before you reach totally flat lands? This gauge would fit all the way into the muzzle well before .308.

I'm surprised at the lack of wear shown by the gauge since the rifling appears very shallow and indistinct from the muzzle end, while at the breech it is very sharp and defined. I guess it is easier to see from the breech than down the barrel at the muzzle end.

https://www.milsurps.com/images/impo...100_7214-1.jpg

You're not measuring 'the bore', just the muzzle. What little wear there is in your muzzle was put there by sloppy steel cleaning rod use. Carbine rifling is very light, like the 1911. This is because its a low-velocity round and doesn't need high rifling to be controlled. Your barrel is essentially like new.