"Even Jeff Cooper believed his ideal Scout Rifle should have a provision for a magazine cutoff"
From personal conversations with the Colonel, he believed that the Krag would make one of the prototypical actions for the scout rifle. He particularly thought highly of the ability to top off the magazine with the bolt closed. The unreconcilable problem was that it would not accept a .308 round from a strength standpoint and the .308 was almost a requirement from a standardization standpoint. He then moved to the CZ and Remington 660 actions as being possibles, then later to the Remington Model 7. I am lucky enough to have both a proto-scout made from a Krag and another true "first gen scout" made at Gunsite on a Remington Model 7, in The Colonels favorite, the .350 Rem Mag "Fireplug". The late 80's were halcyon years at Gunsite.
In any event... the Krag has a long and honorable pedigree. It's still regarded well by those who know.