Pedestal,
I really don't think the conversion you have in mind will work. At least not without extensive (read: expensive) modification of the bolt. My thoughts come not from experience, but from research and deductive reasoning. Because of the huge rim on the .45-70 case, and rebarreling would have to be a case with at least the same size rim or bigger. Which is why the .45-70 conversions were so popular. The original 8mm Rimmed case also had a large rim.
I would think that your options would include: .40-65 Win.; .38-56 Win.; or .348 Win. There are likely more obscure options, but off the top of my head, those would seem the most reasonable.
By replacing the bolt, you could probably consider: .30-40 Krag, .35 Win. .405 Win, and perhaps .38-72 but I am unsure of the O.A.L. cartridge length of the .38-72.
My best advice would be to place it in the back of the safe and forget about it. Likely in 5 or 10 years, your interest will have come full circle and you might just want it back. <img src="/ubbthreads/images/graemlins/smile.gif" alt="" /> Besides you might well be able to buy a .375 Win. for what it would cost to rework you present Siamese Mauser. And besides, it don't eat anything. <img src="/ubbthreads/images/graemlins/smile.gif" alt="" /> Good luck! ....the9.3Guy