If you can still find them, check out the Gibbs Quest Extreme Carbine in .303 British. It's a peep-sighted #4 MkI with the barrel cut down to 17" and then affixed with a funky muzzle brake (bringing it back to just over 19"). Mine shoots great - after adding a few mods to taylor it to what I was seeking in a compact, iron-sighted weather-resistant camp carbine or hiking gun.
The Gibbs "sporterized" military stocks were crap - the buttstock was way too short and the forearm was way too long, which looked goofy and added unnecessary weight. From Boyds I ordered a real sporter buttstock for the #4 (with decent length to it and a pistol grip) and also a new foreend. My gunsmith, without much cost, cut down the forend to my specs (I wanted a shorter, snubbier "carbine" forearm) and then fitted it to the rifle. Then he bedded it. After determining a comfortable LOP, the Boyds' buttstock was cut slightly and a 1 inch "KickEzz" recoil pad was fitted. He also smoothed out the trigger. My Dad has years of experience with woodwork, so he sanded, stained and sealed the stocks. They look great. It all sounds like a lot of work but it really wasn't.
The Gibbs carbine shot fine before all this, but it seems more accurate (tighter groups consistently) after the bedding. The stocks feel much better and contribute to the point-ablility and handling of this little fun gun. With the muzzle brake it kicks only a little more than a .223, but it is LOUD. Some have reported their brake working loose after a few hundred rounds, but mine hasn't moved. It also shoots well with both FMJ and softnose hunting ammo (e.g., PMC). Typically I'm shooting S&B FMJ, which at this time still appears plentiful, but then I order it by the case.
Sights are dead-on the nuts, hitting 1 1/2" high at 100yds. For its intended uses I don't envision engaging targets beyond 175 yds, so for me the sights are fine: just point & shoot.
The original Enfield magazine was for sh*t. However, at a local gunshow, I came across a couple of mags that appeared "unissued" - thickly cosmolined and still in the wrapper. The one I'm currently using holds 10 rds of .303, feeds them smoothly, and doesn't look like a halftrack's been parked on it since the London Blitz.
I can't report on the .308 version. Mine was among the first batch of .303 "eXtreme carbines" to hit dealers shelves after Gibbs began shipping them. It's become my "never-worry-about-it, don't-have-to-baby-it" compact bolt gun.
