I wouldn't call the Alaskan "junk". It was a good scope when it was introduced in 1939, but by 1950 there were better scopes available.
The "cult" following has been fostered by the increased popularity of vintage U.S. military sniper rifles (faux or otherwise), even though the Alaskan was used on very few of them as issued.
Nothing wrong with using one on a vintage M70. Keep in mind that the scope tube isn't sealed, so they're prone to fogging, and the reticle isn't constantly centered.
