I've always been a long gun over carbines, but the inside of that barrel on the rifle would scare me away, certainly so for 700 smackers. I don't know what your criteria for a krag is, but there is cleaner options out there for a couple hundred more. 

I found this fella with a quick search, he has 3 krags for sell starting at 850.00

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I spent $800 on the krag 98 rifle I bought a few weeks ago at a show in Connecticut, you can see it from link in my post in this forum, I wanted a clean condition shooter and no wasn't concern about a rifle being all original.