I have an old 1903 30-06 that was "sporterized" back about 35 years ago. I'm sentimental about it because it belonged to my Dad. Whoever originally worked on it cut the barrel down to 18 inches and and replaced the original stock with a walnut Manlicher that is just way too heavy. I'd like to re-barrel this action with something longer and lighter and replace the stock. I don't want to break the bank with this project--just make it into a servicable "plain jane" hunting rifle. Am I kidding myself or is this a viable project? How much money am I talking about here?

Try E-gunparts.com, you can get pre-threaded and chambered barrels ranging from 243 to 300 Winmag for about 50 bucks. While you are there you can pickup a copy of the original stock as well.

If you can do all the work yourself you should be able to do it for around $200(+/-). I did the same thing not to long ago. Found an original 03 surplus barrel ($45), had it turned down and shortened to match a Winchester M70 featherweight configuration. Got a stock from Great American Gunstocks. Done right, Springfield rifles can be made into beautiful sporters.