I have been thinking of the same rifle requirements.
I assume you are looking for a military surplus rifle. I dont know squat about old school commercial rifles
Here's my OPINION:
1. You are limited to a large ring Mauser design. That means probably a sporterized 1903 or an M48, if you are lucky.
2. Enfields are not a controlled round feed design, IIRC
3. Because a 1917 is based on a Pattern 14 Enfield design, I don't think it is controlled round feed
4. The FR7 is a small ring Mauser designed for the 7.62 Cetme which had considerably lower pressures than 7.62 NATO or 308. PLEASE DO NOT shoot commercial 308 or 7.62 NATO in an FR7
5. The FR8 was designed for 7.62 NATO. I WOULD NOT use commercial 308 in a FR8 and I advise you don't do so either. This is subject to debate but that is My Opinion. (I would even be picky about using a lot of 7.62 NATO and be careful about where it came from, as in no IMI or Hirt)
6. There were Chilean Mausers on the market rechambered for "308". I dont know who rechambered them (arsenal or Century) but I would only buy one after careful research including determining whether they are large ring or small ring Mausers. See #7
7. There were a lot of Mauser pattern rifles sold to a lot of countries over the years. Many of the less expensive ones I see are South and Central American. Some are small ring, some are large ring, many have had a hard life, especially in the price range you want. Unless you know what you are getting, and have a safe way to determine the rifles serviceability, I would avoid this option
8. Other than the 1903A4 and FR8, I dont know of any Mauser pattern surplus rifle that used peep sights. So peep sights will be an added cost for you
Which brings me to...
I would recommend a new production rifle. I dont know your intended use, but by the time you find a sporterized large ring Mauser, swap the barrel to 308 or 30-06, and add peep sights, you are approaching a new Ruger Gunsite Scout rifle ($800?) which is based on the M77 controlled round feed design, comes equipped with peep sights, and will shoot accurately out of the box. The barrel is a slightly medium profile I think
For about $600 you can get the Mossberg version of the Scout rifle. It is not controlled round feed but some models do come equipped with peep sights. I think this is also advertised as a medium profile barrel.
For about $500 you can get the Ruger Ranch (?). Barrel is between a hunting weight barrel and a medium weight barrel, no controlled round feed, no peep sights (I think only maybe one model comes with irons).
For $300-400 you can get a Savage Axis, Ruger American, Remington (Model 7), TC, etc. All designed for the ammunition you intend to use and will not raise the ire of historical rifle collectors when you add on what you want to make the rifle do what you want it to do. All are push feed, no iron sights.
Depending on your intended use you use, you may want to consider a red dot or Low Power optic
If you have your heart set on a surplus rifle I would look for:
1. Swiss K11 or K31. Swiss 7.5 is ballistically similar to 308.
2. Finn M39. These shoot even steel case 7.62x54R ammo with amazing accuracy. Caliber is ballistically similar to 30-06
Both of these are notch sights. Please dont permanently modify a historic piece.
Good luck
ugly 303 enfield sporters can sometimes be had for 100-200 dollars, keep an eye for auctions. not what you asked for, but way under budget. spanish 308 conversions, israeli 308 mausers sometimes show, they bring good money unless the bores are crap.
If it's sporterized it's not C&R any more.
A question in my mind when this thread start up was, why does it need to be C&R eligible?Pattern 14s and 1917 Rifles are both modified Mausers. Both are controlled feed. They are not Lee rifles. Enfield Lock is a place, not a design, like "Springfield."
If it was sporterized 50 or more years ago, it's C&R eligible.
There were a lot of nice sporters made on 03 actions back in the day. Many were fitted with Lyman aperture sights. Anything sporterized before 1970 would be C&R eligible.
My understanding is that that is the ATF's rule.
It's based on a reconfiguration done more than 50 years ago, and not substantially changed since.
There are a lot of nice old sporters built on repurposed military actions.