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That is not a "last ditch" rifle; It has the rounded bolt knob, the checkered safety and the normal rear sight. And it almost certainly has a chromed barrel, which is why the barrel is still in good shape.
Many thousands of those rifles were converted to .30-'06 after WWII and proved capable of "minute of deer" accuracy. Generally the larger bullet would "upset" or expand under pressure enough to fill the rifling.
The U.S. Army even converted some Type 99 Arisakas to .30-'06 for Korean reserve units during the Korean War.
Contrary to what has been written, the Type 99 is a strong rifle and can easily handle .30-'06 pressures, so safety is not a concern (although an individual rifle may be unsafe for some reason).
Jim
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