I'm an old 7x57 shooter, 38+ years as of 08/08, and think that a cost vs. benefits analysis is called for:
Costs:
1. Rechamber job
2. Dies
3. More difficult to sell wildcats than "standards"
Benefits:
1. Less case trimming
2. More velocity
3. Cool factor
For me, doing a 7x57 AI would not be worth the cost/effort, but as with many things, YMMV.
Ruger #1s can be a royal PITA to get to shoot good groups with some that will never shoot good groups, so I think that I'd want to see what its potential in factory stock form would be before I'd do anything to personalize it.
Jeff