On top of the valid issues regarding cost of ammo, I'll throw one more reason into the mix.....
As the owner of two Match Grade M1 rifles, I can tell you that I had to think a long time about the difference between 30-06 and .308 before choosing the chambering for the new barrels.
Since I reload everything that I shoot in matches, ammo costs were not an issue here. In the end it all came down to one thing.... throat length.
With standard 30-06 chamber reamers the throat is cut so far "out there" that you can't seat the bullets to reach the lands and still fit in the mag well..... and finding a 'smith that would modify a reamer to suit my needs was not only difficult, but pricey in the amount of HUNDREDS of additional dollers over what I could afford.
By chambering in .308 you get all that added mag well space due to the shorter brass to use for "long seating" the bullets. With this cartridge all my loads have the bullet seated just off the lands, both the short line and long line loads.
As far as any real difference in inherent accuracy between '06 and .308, I'm not sure how I fall on the issue. I will say that the one bit of datum that makes the most sense to me is the fact that when many Highpower competition shooters were switching their comp M1's from 30-06 to .308 was during a time when the Army was changing the specs for the Match ammo being made at Lake City.
The only Match ammo ever made by Lake City for the 30-06 was the M72 load, using the LC 173 grain fmjbt match bullet. A fine load and a fine bullet. This same bullet was also used in 7.62 nato Match ammo (M118 load ???... can't remember for sure.)... also a fine bullet and fine load. Both the M72 and M118 served well for years.
Then sometime along in the 70's (I think, could have the history wrong) Lake City came out with the M852 load in 7.62 Nato, using the Sierra 168 grain Match King bullet. The 168 SMK is a MUCH better bullet than the old LC 173 grain. All of a sudden, scores started going up at the 600 yd line in the M14's, and the M1 shooters, stuck with the M72 load, were left sucking hind tit. Those M1 shooters that were taking advantage of the readily available (then, not now) LC Match ammo for all their comp shooting made the intelligent decision to switch over. The next time their rifle came due for a barrel swap, it was a no brainer to go with the 7.62 Nato chambering.
As far as any real difference in inherent accuracy between .308 and 30-06, I tend to think that MOST of the historical competition difference lies in this ammo issue at Lake City. Of course, there are other factors too, but I'm thinking most of it lies here.....
Just my thoughts,
Swampy
Garands forever