Is it a project worth pursuing? Only can can say. Decide how much you want to spend, then calculate the cost of the project. You farming out the work or is it a DIY project? The 1909 is a fine action, many a custom Mauser was built on one.
Bugger, the 1909 was chambered in 7.65x53, not 7x57.
Lotsa ways to get into a .30-06 Mauser for less than the cost of a build but building allows you to build the rifle you want not just settle for what's available.
