The butt is a pretty rare beast too. All the rifles that were on converted to MkI*** were supposed to have an SMLE butt fitted as part of the mods
I agree... would stick a foreend on it, even a buggered old sporter and open the channel out so the barrel is fully floating and see how it shoots. If the bore is ok, you might be surprised. I would be interested to hear back what you do and how it works out.
Good luck with it!