Dear Dave

I absolutly agree nothing short of a perfect match would be acceptable. No Chevvy Ferraris.

But yes, for me those replacment barrels within the paramiters stated would not diminish the gun. There are few that could do it but they do exist.

Whether it would effect its collectors value is a matter for collectors. I am not one.

To me a gun which is 60 years old but perfect in all regards and never restored has value only as an item. It has never been used, has no acomplishments to its name. It is as much use to me as a beautiful virgin. Only good for unrealised enjoyment. Magnificant to look at though she may be.
I would rather prefer an acomplished 30 year old that has had to be tightened in her late 20's, as you say, ridden hard and put to bed wet

On a cost benifit analysis, again I am not in the collector market. But maybe Ł 10,000 for that set of barrels and the re-finish. Now if the gun is action only but otherwise good what does it make from a first rate name. I don't know but you would.
I would still imagine that it could add up. Perhaps not for you guys at the very top end of the market, but it would find a home further down. And in another 40 years nobody will give a hoot as the untouched ones will be so rare.
Back to the vintage car secenario, people are buying total basket cases for almost the chassis number only and effectivly building new cars from the ground up as the truly concours examples have reached the stratosphere price wise.

I would rather see such historic guns saved with new barrel sets than see them decline further and reduce the pool of guns that was not huge to begin with.

But you are quite right, it would not make sense on a purely financial basis if one was only looking for a hunting gun.

Best Regards