Larry, Welcome to the forum and to the wonderful world of Krags!

Perhaps the friend is confusing the Low-Numbered 1903 serial number issue and the Cracked-Bolt issues with Krags.  Just a guess of course.

As Madsen and Zgun both said, there are no Krags with issues making them unshootable.  The cracked bolt issue has to do with an effort to adopt a hotter round with better ballistics around 1898.  After the bolt lugs started cracking, the hotter rounds were removed from service, bolts were replaced, and life went on.  Just so you know, Krags are (incorrectly) notoriously labeled as having a weakness because of the single locking lug... however the Krag bolt has two excellent backup lugs which are never mentioned - the guide rib and the bolt handle.

If you're concerned, have a competent gunsmith - one who KNOWS Krags inspect the rifle (unknowledgeable gunsmiths sometimes report erroneous info and compound the problem).  I suspect that yours is just fine and dandy!

Then, have your Krag owner friend join the forum too.  This is the best place to get a Krag education!!!