The .357 Max will drive a 180 grain to 2000 fps in a rifle barrel, but you can't do it with the .357 case. The rechamber is an easy do-yourself job, but I'd think long and hard about doing it to a Ruger No. 1 were there any chance I would ever want to sell.
I've done about ten rechamber jobs myself and rented a reamer out to about 20 other guys. Everyone is happy and it's a really neat conversion, but we've been doing it to shootables, not collectibles.
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