I'm still waiting for the "verified failure" in a rifle having proper headspace with modern ammo.
Th low number 03s' were heat treated by the same guys who did the Krags. Funny as to how there are no contemporary horror stories of Krags exploding although a much weaker action and shooting the same horrible 220 gr cupro nickle bullet. Quite a few Krags were wildcatted to 25 Krag, no slouch, and yet no records of failure in the literature of the day.
IMO my low number Sedgley 270 WCF pretty well proved that failures that could be identified were due to the nut behind the bolt, not the rifle.
I even once had a Sedgley low number that was a 300 H&H. Took a lot of work to fit that 3.6" oal cartridge in an 06' action, including hogging out metal behind the lower locking lug so the enlarged magazine would fit. Headspace was dead on and I shot it with 300 H&H loads, loaded to levels of the 1930s. Once saw at Holland and Holland gun room in NYC, a WW I 98 actioned Rigby bolt action in 416 Rigby ! Musta have taken a pound of metal out of that action, but it was a well worn gun that spent many years in Africa killing things.
As, I said if anyone has a low #03 and is scared of it, I'll be happy to take it off your trembling hands.
Here's another VERY low # 03 that has yet to explode in spite of having many 1000 rounds through it. Do you know why ?