I'm going to go out on a limb here and yes a talented machinest/gunsmith probably can chamber one to fit the cartridge. I'm also guessing that it might fire one round. I wouldn't expect it to shoot a second round. I'm not a gunsmith or engineer, but this sounds like a terrible idea.
I'm also guessing that anyone with the where with all to do, would not do it.
The SB2 platform isn't suitable for magnum rifle chamberings, magnum pressure combined with the larger case head produces too much breech thrust. H&R tested magnum chamberings on the SB2 platform to be built and sold in 2008, but they didn't pass testing, so they planned to build magnum rifles with new magnum frames in 7mm Rem Mag, 300 Win which were listed in the 2008 catalog, but they didn't get enough distributor preorders to justify the $20k R&D and production cost, so they were never made.
If you are a recoil junkie ream a Buffalo Classic out to 45-120 Nitro Express with a 405 grain bullet, a bunch of IMR4320 powder you can achieve 2550 fps and 5850 lbs of energy from the 32 " barrel.When using this load extreme care must be used to make sure the are no other animal of any kind behind your target because it will kill them as quick as it does your target ! Upon hearing of the existence this little Darling , the Famous Lone Star Armadillo and the last T Rex in Texas took up refuge in the Big Bend and have never been seen again . It being a single shot is really a blessing because no one that shot it (besides me ) has wanted to have such fun again!
To get back on the original post, a 30-06 will do anything the belted 30's will do in the hands of an experienced rifleman.
Having actually had steel and brass particulates penetrate my face, I would not recommend the experience. Flying gun parts SUCK. Even it did not blow, that soft H&R underlug would be compressed so bad in a shot or two that the gun would be junk.
The 300 Wby wouldn't cause catastrophic failure, but the action is too flexible to be accurate and the underlug would set back resulting in a loose fitting barrel. I've tested a 300WSM barrel personally, it has even more breech thrust than the Wby due to the huge .555" case head, no TC barrel mfr offers it for the Encore because of it. The original owner of the 308 Win barrel that he had rechambered to 300WSM fired 3 180gr factory rounds in it making the barrel loose on the frame, although his other fitted barrel still locked up fine. He sold the barrel to Mac for the cost of shipping who sold it to me, I made the underlug improvement to repair it, then worked up loads with 150gr bullets hoping to achieve 30-06AI velocity, but I barely made 30-06 velocities that were accurate, the action would flex at each shot enough to stretch the brass so it couldn't be fully rechambered and left daylight between the chamber face and standing breech before the action was broke open which made the barrel release hard to press. I used the barrel for a stub for a 6.5x55.
The SB2 frame itself is pretty stout, the small 3/16" pin that supports the barrel catch is the weak link IMO, it should be at least ¼" so it can't flex. An example of it's strength is a GBO member was shooting his 243 Handi, a friend was shooting a 7.62x39 something and somehow loaded the 243 with a 7.62 round which when fired locked up the action, the bullet cleared the barrel, he contacted Gardner, they had him send the rifle to them, the frame was fine, but the underlug was toast, they replace the barrel and returned the rifle.
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