I don't like barrel bands or long forends on most any sport configured rifle, but a few seem to pull it off. The proportions strike me as pleasing, easily making me want a closer look. I'm not an '03 fan in particular, but if I stumbled on the right project barreled action, this style of stock would interest me more than to end up with an American style classic sporter.
I like this example rifle. The wood grain, checkering, level of metal prep, good apparent fit and finish all say good stuff to me, not plain. For me, the whole package pulls it off, not just the stock, and they don't make 'em like that any more. I fairly recently saw an old timey group picture where one of the fellows was holding a Winchester single shot with that same forend, barrel band treatment, makes me want to dig around and see if I can find it again.