It is improbable that the "extra" 1/8" would raise pressures to proof load levels but some load combinations can raise pressures to near or over SAAMI maximum. This would lead to premature wear and possible parts breakage when compared to "normal" pressures. Just how much sooner is open to confecture and one would determine the number of angels that could dance on the head of a pin before agreeing on how much quicker problems a particular gun would suffer.
I would have few concerns regarding the internals when using modern ammunition equivalents of the era of production as the 97 is a well designed and built firearm. John Browning was a gifted designer and all of his early designs transitioned to smokeless powder with little, if any design changes. My greatest concern would be with breaking the stock as time, use, changing humidity, and especially oil would all have their chances at weakening the stock.
