G'day UncleJake,

I don't think it would be too difficult to obtain 8mm/.323 projectiles over here (never had to yet).
Oddly enough, I've heard of a situation with another SMLE shooter using 32 cal cast projectiles due to having an oversize bore.
A fellow member has suggested the 35 cal re-bore/re-chamber, this would be the 303-35 in Aussie speak, probably the 35-303 in US parlance.
I'm still a bit of a sucker for trying to keep it around the original dimensions, so the 32 cal sounds like a good option, and as you said, would probably be closest to the original performance.
Another option is to try and source an original 303 barrel in better condition. Apparently there are a lot of them floating around from gunsmiths doing the 303-25 conversion, or from the actions being broken down. The trouble is, you might be swapping out one problem for another one.
Will try some handloads soon using Sierra 150gn .311 projectiles, I'll see what I can squeeze out of it with them in the original barrel.
Either way, she's a real pleasure to shoot.
Cheers for now,
Aussielad