The Sako L61R/AIII/AV action was used for medium length cartridges (7x64, .270, .30-06 etc) as well as for magnum length cartridges like the .375H&H.

The magazine on my Sako .270 L61R (early model with additional safety lug opposite the bolt handle) will easily hold a .375H&H round... not blanked off for length.

The needlessly long action (and therefore extra weight) for medium length cartridges was one of the few valid criticisms of the L61R action... and one of the reasons Sako went with additional action sizes for the Sako 75 and 85 models.

Some good Sako model development info here:
http://en.wikipedia.org/wiki/SAKO