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I have not encountered any Argentine 7.65 rifles that have been modified to use 7.62x51 (7.62 NATO), but some Chilean 7x57 rifles were modified to that caliber by reboring and re-rifling plus the use of a chamber sleeve inserted into the drilled out end of the barrel. The original barrel and its markings were preserved, but there are questions about the conversion method and what, if any, problems might arise from its use.
A very common conversion of the Argentine Model 1909 is to .30-'06; the magazine has to be modified, but the chamber will cleanup quite nicely. Accuracy will be mediocre, but acceptable to some buyers. The difference in cartridge base size, often a subject of dire warnings, is insignificant and in fact, specs overlap.
Jim
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