The P in circle means mail order parts proof mark so your barrel was replaced outside the Winchester factory. Is the muzzle of the barrel blued and flat or just unfinished and flat I think what you have is a nice little idea of someones WRF. How is the dovetail job on the front sight is it nice and sharp ? I am wondering if the barrel was ordered at the current length or cut down later its kinda like Parkers Never say never !!!
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