I could see an investment casting in 17-4 stainless and heat treated at 900 F maybe with a little work you could mottle the tint to look like a case hardened receiver. It could be made to headspace on 2 points on the bolt and make a stronger assembly than the original Krags. I would buy a couple, about half the active members here would buy one or two, that would be about 100 pcs. I like the idea of a carbine length sporter with a composite stock and rubber butt plate also.
I am still in the business of making machined parts and assemblies but no way could I switch the mental gears and do the paper work needed to produce a commercial firearm today.