I didn't think Winchester had a model 70 Rifle 300MAG that early or that the Winchester 300mag was available that early. Was there another 300 mag chambering for the Model 70?
There were some Hornets converted to .222. The quickie conversion was a rechamber and bolt face job, there were a few deluxe rifles with working magazines.
How sure are you the barrel is original?
Bought a 1952 vintage compilation of Jack O'Connor's articles while being couped up by the Covid Panic. .300 Mag meant .300 H&H or .300 Weatherby in 1952. The Weatherby came along in 1944.