Been a while since I visited this site so I'm far behind on the posts. I'm sure you and I were looking at the same rifle at All American Arms in Spokane. I agree with your assessent, I too think it was a refurbished militray rifle, but a very nicely done job. I have a standard M-95 that I enjoy shooting becasue I get teased about the way it looks, the straight-pull bolt, the Mannlicher clips etc. etc. etc. I been struggling to make mine shoot cast bullets well so I can use it to suprise people in the Cast bullet assoc. carbine postal matches. But I digress.....
I too considered it as a fun gun to hunt NE WA whitetails with, since I load for that caliber already. But it wasn't worth almost $500 for the novelty factor to me.
Interesting you mention a Nazi marked M-95. There was Nazi marked M-95 Stutzen a the April Spokane gun show. I wasn't sure what that meant, so maybe it was a police carbine like you talked about. I saw it on a private table in the back of the show and I THINK they wanted $400, based on the Nazi marks. I had no idea what it really was, and wasn't willing to pay the price for the markings over a typically $100 gun.