Of course, there's always the Martini - actions aren't that expensive, trigger can be adjusted easily, very fast locktime, and just about perfect size for the 2 cartridges you mention.
For traditional, you'll need a tang sight, but as a Martini doesn't have a tang, that is a bit of a problem... - but one that can be solved. Unfortunaltely, a Cadet action won't handle those 2 rounds. I am still dreaming of building a 30-30 or 30-40 Wesson on the cadet action I have...

Many good thoughts above.

A tang sight is folded down to breech seat. I don't breech seat as it's disruptive to aiming for shooting offhand.

I have shot the 38-55 the most with a 240 gr bullet at about 1550 fps. The recoil does bother me but some matches allow the leather shooting coat and that really soaks it up.

I would go with the 32-40 or 8.15-46 for a traditional cartridge. The 33-40 was used only after the 32-40's barrel wore out and it was recut.

As to the Ruger it's ok but the locktime is slow. I now prefer the AYDT.

You can see one at www.doublegun.com/T907.html

Mine is similar but used. It has deep engraving on the sides and a gold inlay on the top of the action.