Well, it's 1-1/2 years later…
But the feed is finally done. Last weekend, a friend oversaw my novice machining skills and helped me figure out how to accurately hold the barrel for threading.
I had a cheap chrome lined press fit sks barrel that was already chambered. After learning how to make receiver and barrel wrenches, I managed to get the old barrel out of the receiver. I used some of my Ed's red gun cleaning oil/solvent as penetrating oil, which seemed to help. Bunch.
I cut the barrel off and left enough of a stub so that I could grab it with a barrel wrench and tighten the stub back into the receiver. This was the threaded with a 3/4x16 tap, using the lathe to hold the work and the tail stock to center the tap from behind. Next cut threads onto the barrel using the lathe. If you have never done this it is surprisingly satisfying. Made a locking nut out of some 4140 (or maybe it is 4130???) steel bar stock that I had laying around, again using the lathe to line everything up. The barrel was a bit of a tight fit in the receiver stub and the lock nut, so the next day I set it up again and managed with no oversight to pick up the threads and cut them just a tiny bit smaller. From there everything went together like a charm. The locking nut is for two reasons, one the barrel is not big enough to have a shoulder to stop on, and two, it allows it to be easily headspaced.
I ended up head spacing by taking the firing pin out of the bolt and using live rounds to check. I did it up so that the bolt closed snuggly. Then tried instead of wolf steel with some MFS brass that I bought a number of years ago. This stuff was really tight, so I backed it off just enough that the bolt was able to be opened without using a lot of force. I read that the SAAMI specs for the round are not the same as the original Russian nor the CIP chamber specs, so I decided to save my money on buying gauges that would give me false readings anyway. I doubt I'll ever use any ammo other than the Russian steel cased or the MFS brass, but if I do, I can always adjust a bit if it is still too tight. Since its not an auto loader, I'm not worried about it getting hot or the chamber getting dirty and causing jams...
Today I went out in the country to my friend's farm where he had a good backstop, and strapped the thing to a table. Got a long piece of string and hid behind a tree for the first round. Wasn't really worried, but better safe than dead. The bolt turned beautifully, and the extracted case looked just fine, as did the bolt and the rest of the rifle. I put a second round in and shouldered it this time... Almost no felt recoil, not half as hard as a 6.5 carcano round out of a cavalry carbine. It might have been because I was so excited to finally be firing off a gun that I built, even if I did build it from mostly existing parts. Now all I need are sights and/or a scope or red dot, maybe pretty up the stock a bit. But not too much, since I'd it's too nice I probably won't take it out and use it.
Next up I want to get a 9mm bbl and chamber with a 7.62 reamer. I have a couple more of these carcani that I can work with, and want to see if I can fire form and then reload as 9x39.