I've got a 7600 30 06 with the 18.5 inch barrel. Absolutely love this gun. Recoil is stout in a carbine 30 06. A 35 Rem never would have hurt me at the ranges I shoot and the reduced recoil would have helped with follow up shots. 35 Rem might be the perfect caliber for that rifle if you keep it light with the H2 or a peep. I say, do it. If it were mine though, I'd rethink the high comb. Cool project, good luck!
