More about Krags in other calibers:  The .25-35 Winchester was a rather common choice for rebarreling an old Krag.  I think I have seen 3 over the years.  If one came along and was decent, I might be tempted. 

Ness reported on one in .25 Remington Rimless, with a 3-shot magazine.  Was that a one-off?

Rifles were and are still made for the .25 Krag case, but no Krag action should ever be considered.  The old timers knew that.  The same thing would apply to a 7 mm Krag.

That brings me to thinking about other heavy-bullet hunting cartridges.  Have you ever seen a Krag in .38-55 or its latter day variant, the .375 Winchester?  Would the Krag action work with a .45-70 cartridge?