At the Local Gun Club we used to do the GSM shoot each spring and that would qualify our club to supplys of M1 Ball.
We havn't to my knowledge been able to get the ammo for years now and therefore we havn't been holding that match.
Now I know there are no good excuses for not shooting, but I have to admit I am not interested in shooting the M1. I do love the old bolts.
Re-Reading your post, I do like the Idea!