Well, I'm on the same page with this on e that you are buffalochip. I'd trim down the comb of the stock so you get a good line up on the iron sights.
Or...jjmitchell beat me to it though...send the stock my way.
I've got an M96/38 (24") that is set up nearly the same way. I D&T'd it for a Williams receiver sight and I use it open-sights-only as my brush rifle. Mine still has a butchered military stock, but a new stock has been on my project list for some years now.
I want to do an early 20th-century commercial Mauser sporter look with mine though.
I love the receiver sight for close-range work...and so far my eyeballs are still good enough for out to 200yds on deer with it too.