Nothing wrong with that!
Rather tastefully shortened. I had one once that was cut FLUSH with the front band. Goofy looking thing.
This one is a nice, honest sporter. I'd bet it made it possible for a family or two to eat meat during some lean times
EDIT: I've not bought from this site but this blank handguard would look nice since you have the peep sight. You'd be able to recoup nearly all your cost by selling the existing rear sight.
http://www.partsforantiqueguns.com/K...Handguards.htm