Ordinarily I'd be with gtodan on this one. I'm always on the prowl for a Krag "in the wild" to "restore" but in this case you know the rifle's history and who had it, I'd probably keep it as is. The way your grandfather had it and used it. That's one of the reasons I wanted to see the end of the forearm. It looks like a better chop job than most.
"A man with a tractor and a chain saw has no excuses, nor does he need any"
Me. "Consistency is the hobgoblin of little minds" Emerson "Consistency is the darling of those that stack wood or cast bullets" Me.