Marlin Ballard, 40-63, set trigger.  Rode hard and put away wet.

Rebore or line?  Caliber?

Thanks,

Lyle

I'd like to see pictures of it. That usually tells me the whole story about what should be done with it.

Well, I have pictures with my phone, but unable to post them yet.

Lyle

I have a Ballard Pacific in 40-90 and have debated between reboring to 45-70 (readily available), reclining to 32-40 or 38-55, or rebarreling it to one of the target calibers mentioned. Since I can’t decide, it languishes in the safe unchanged and seldom shot. 

Froggie

A Gunsmith who did re-boring advised me only 90% of American rifles can be re-bored successfully whereas only about 10% of hammer forged European barrels can be re-bored. 
Barrels may have hard and soft spots (work hardening) which make it difficult to re-bore because the cutter deviates when it hits a hard spot.

Line the barrel with a TJ's liner for best results. 
As for caliber, depends on your intended purpose. Schuetzen? Silhouette? Long range targets?

I don't have a deep hole drill but I set up a lathe for reaming barrels, sometime they come out great and sometimes not. Same with the rifling machine, some look good some don't. Funny thing is looks are not everything. When I first got started cutting rifling a customer sent me a Model 70 barrel to bore out and rifle. The cutter sounded like it was being drug through gravel and the bore proved it. It did not look good but there was rifling in it. I sent it back to the customer at no charge. He asked if I wanted to try again and me being a gluten for punishment said yes. The next barrel looked great and I was proud of how it turned out. Couple weeks went by and the customer called and told me the second barrel I sent him did not shoot very well so he tried the rough barrel and was surprised at how well it shot. Now most of my time is in making new barrels from a blank or installing a liner, the rifling machine only does a few barrel now and then. Most of the barrel I cut now are a special twist or groove. Last one I did was 416 stainless in 58 caliber with Forsyth rifling ( wide grooves narrow lands slow twist). Some of the old BP rifle barrels have pits that run vary deep that will dull a cutter. Some of the nickel steel barrel have hard spots. I won't take in any hammer forged barrel except 22 rimfire. Krupp steel barrel are very hard and are better suited to making pry bars.
If someone is getting 90% of their barrels to cut good I would say they are very lucky. I have cut rifling in Titanium barrels, first time I had smoke coming out of the barrel.