I know this is an old thread, but I do have some recent experience with the M48. I have it in 28 Nosler. It has been difficult over the past several years to get powder and bullets (It loves Retumbo and Nosler 160g AccuBondLR, getting around 3,200 fps). I have spent a couple of years in the mountains with it now. First the good: love the weight, with a muzzle break the recoil is mild, it is fairly tough having been knocked around a bit in very rough terrain, it is well balanced, and very flat shooting. The bad: First and most significant, magazine length is very short. I tried to develop a Berger EOL 195g load and could not do it due to the length of bullet. Second, after mounting a scope with some very high priced rings I was having issues, so I checked the alignment and it was terrible. I had to lap the rings a substantial amount to align them. Third, twist rate. The 1-9 twist does not stabilize some 175g bullets (check Bergers stability calculator). So your options are somewhat limited in the ELR style bullets. I am going to install an MDT chassis to improve the magazine length issue, but that will add some weight.