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The Rock Island is a low number single heat treat action, being below SN 285,506. Some people do not consider them safe to fire, but obviously it worked for Grandpa.
I do not know what TrapperL is talking about.
Your rifle's action is Class C steel, case hardened "single heat treated". Later guns were Class C "double heat treated" and after that they went to nickel steel. Can't be all three at once.
I can find no mention of Rock Island making either arsenal sporters or Type T match rifles. You almost certainly have a sporterized surplus rifle. Dollar value is low unless superbly well done by a recognized shop.
Study the low number - high number phenomenon before you shoot it. Study it HARD before you handload for it. See a psycharitrist before you hot load for it.
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