In his 1923 book, "The American Rifle", 'The Major' still spoke highly of the Krag:

"As explained in the chapter on cartridges, this can now be reloaded with the new powder the sharp pointed bullet to give ballistics almost equal to the Model 1906 cartridge".

I'm anxiously trying to get to that section of the book, but there's so many other interesting tidbits!  Ebook is available.

Am I missing something or was the person that drew the illustration on 104 overly optimistic on the magazine capacity? I am thinking both my Krags only hold 4 in the magazine. Were there variations that hold 5 and that is what was drawn?

Standard magazine capacity for the Krag is five.  With the cutoff engaged, you should be able to have five rounds in the magazine and use the rifle as a single shot until the cutoff is disengaged. 

Some sporters were reduced in capacity, either by purpose, or by design of modifications that were used (loading gate removal/modification, etc.)... usually reduced to three rounds.

I have been poring over this book and feel like a kid in the candy store.  His clear, concise , experience-heavy explanations,are a respite from the hyperbole and opinionated rehashing that is so prevalent today.

I found my deluxe 1918 reprint (NRA Classics) new in the wrapper and cardboard shipper for $25 on Ebay.  Keep an eye out for it... it's a real treasure.