My first high power rifle was a .308 Norma Mag and was built on one of those" WEAK" WW1 actions. The rifle was made in Danzig in 1915, in 1964 it was barreled to .308 Norma Mag. I figure if the action was strong enough for the 8/mm a hundred years ago it is strong enough for the 8/mm and other calibers today. There are numerous magnum caliber rifles built between WW1 and WW2 by European manufactures and it did not seem to worry them that the receivers were weak. The "weak" claim has been repeated for generations is like a lie, if you tell it often enough you start to believe it.
Not quite, the problem with older Mausers has been two fold--some have been abused over the years like a lot coming from various third world countries, the second is the nature of using carbon steel itself. Mausers have a softer core and are case hardened by impregnating carbon into the surface of the receiver by heat treatment at the appropriate temperatures. The whole process is actually quite detailed and as long as each phase is handled properly, then a safe receiver comes out. However, leave a receiver in for too long, use the wrong temperature, impurities in the steel, etc., can all have an effect on how deep the heat treatment goes or even worse, like the American 1903's leaving a brittle receiver that will shatter with the right blow.
WWI 8x57 mm proof level loads are posted online in numerous places with some disagreement but generally agree that service level ammo was about 44k with 1930's increased to about 46.5k. SAAMI figures reckon .308 Norma at around 55K or so. Modern CIP for the 8x57 Mauser is about the same or a little higher 56.5 K.
But, European laws can be quite strict requiring reproofing for caliber changes and the like (example of Britain's proofing laws found at
http://www.gunproof.com/Proof_Memoranda/RULESOFP.PDF). U.S. SAAMI levels for the 8x57 Mauser are around 37K because of older 8x57 Mauser .318 bores instead of the later .323 (present day) because the U.S. has no standard for reproofing firearms for safety reasons. Thus, CIP feels more comfortable setting higher pressure levels for old cartridges than does SAAMI because of European proofing laws that weed out unsuitable firearms over time.
Some German 98 Mausers were known to be problematic in heat treatment as well as other features, as someone noted above, late in both Wars, the need for churning out weapons and shortages of skilled workers meant that defect rates rose in production and fewer of those defects were caught. Similar problems with ammunition were legion at the time and some of that was really bad stuff. Some producers were more affected than others.
Now, in part, if properly heat treated, the Mauser 98's case hardening and superior gas handling of punctured primers or cartridge separations, make it superior in safety measures compared with older Mausers and some other contemporary milsurps. 98's receivers often can fail gradually even after high pressure events but what often happens is lug recess setback which can be a gradual process (wearing through the case hardening through extensive use will eventually end up in the same place)--greater and greater headspace, more difficulty opening the bolt, deformation of the brass, and so on. Now, this does not mean the Mauser action is "weak" as far as "blowing up"--it will do what the original service design parameters required and probably for some degree above it.
It was not designed for firing the .308 Norma Magnum but German Service Ammo for WWI. Does it mean that it can't do so? That requires a whole host of questions--e.g. what is the depth remaining on the case hardening on receiver lugs, are there scratches, burrs, etc. on those surfaces, how much surface area of the bolt lugs are bearing on the recesses, how hot are the .308 Norma Magnum cartridges (what variances in pressure exist between rounds is one issue), what is the percent of carbon in the alloy after the heat treatment, what is its hardness, etc., has it been drilled and tapped, did that area get annealed, and so forth. And some receivers have been re-heat treated to higher standards (tricky business that). You may know the answers to all of these questions for your receiver, on a generic 1915 Mauser 98, your answers may not apply to that one.
Slamfire, a THR poster, has made it a practice to study metallurgy in these rifles along with much experience in actually shooting these beasts. He would be able probably to give you much more on the details of that study and it may be on the THR archives somewhere. My caution comes from restoring old military rifles and what I've seen on doing these as well as having a healthy regard for my fingers, toes, and health in general. I am a fraidy cat if you will. I have a 1916 Oberndorf GEW98 restoration (cut barrel and sporterized stock) undergoing and even at this stage of the war, Oberndorf was still producing "good receivers" by the measurements within .001 of a 1930's era Oberndorf. Despite my respect for Oberndorf, and doing the required safety checks on the receiver, would not try to fire modern magnum rounds through it. It lasted over a century in decent condition so I want to help it meet that next hundred years in one piece. As usual, YMMV and this is my reasoned opinion--take from it what you will.