Re: To rebarrel my m48 or not?
I would take a step back and evaluate your needs and goal for the rifle. The 6.5x55 is an awesome cartridge and the Swede Mausers are nice as well.
The Yugo M48 is a robust action and they are pretty darn accurate for a milsurp.
The thing is if you plan to make a custom target/ shooter, there are other rifles that will get you there at much less the cost. Everyone who owns custom Mausers will tell you they can go from $350 to over $700 before you know it.
The M48 have limited aftermarket stocks, you will have to pay to d&t the receiver for a scope, the bolt is bent but not enough to clear a scope, etc etc
If you want something with the 98 receiver and 6.5x55, you can find or built a Twede. The Turk K.Kale receiver is large ring, that accepts a small ring shank. So if you can find a good 6.5 take-off or refurb bbl, you will have a nice military looking Mauser with all the good features.
Other than that, you can get into a Tikka in 6.5x55 for around $800.
If in the end you just love your M48 and you want to have it rebarreled, go for it. Just know that the return on investment will be most in your satisfaction, not monetary.
After thought: If you want a fun project, then you can pick up one of the 19.5" 7x57 FN22 bbls from Numrich
http://www.gunpartscorp.com/catalog/Detail.aspx?pid=955300&catid=0
They cost under $50 and the bore is prestine. Add an XS scout mount and a Williams front ramp and peep and you will have a nice little scout rifle. A good smith should be able to fit the bbl to the action, just has to cut a recess for the extractor.