The only functional difference between steel and alloy receivers is rifle weight. As detailed with actual figures in previous posts, the steel receiver adds 1 lb. 5 oz. which is appreciated with heavy recoil calibers.
You can tame recoil even further with an easily removable 12 oz. or 16 oz. kickstop. This does make steel receiver rifles with heavy caliber Selous barrels appropriately heavy, but a joy to shoot
You could mount a .500 Jeff barrel on an alloy receiver if you wanted, the mechanical strength is the same as that of a steel receiver. Good luck with the recoil though
I have three R8 and nine barrels. A steel receiver R8 for a heavier Safari rifle (due to .458 Lott recoil); an alloy receiver R8 for a lighter mountain rifle used in Europe and America; and a shortened-stock alloy receiver R8 for my wife. I bolt indifferently all standard diameter barrels (17 mm) onto any of the receivers and all combinations retain exact zero.
The heavier Selous (22 mm) .458 Lott and mid-weight .375 H&H (19 mm) barrels only go on the steel receiver R8, but this has nothing to do with zero or mechanical strength. It is just because the barrel channel is wider on the steel receiver rifle, and I did not see the need to widen the channel on the alloy receiver rifles.
The reason why R8 rifles retain zero when switching caliber is that
the scope is mounted on the barrel, not on the receiver, hence changing the barrel does NOT change the scope attachment.
In addition, the detachable scope mounts return to exact zero. I have detached and re-attached enough R8 scope mounts on enough R8 barrels to be categorical and final about this.
The only limitation is that each mount MUST be adjusted (2 easy back screws) to its barrel. Therefore, in practical reality, each barrel has its dedicated scope on its dedicated mount.
The reliability is such that I DO NOT check zero when arriving in camp, and I DO NOT check zero when changing barrels. I simply bolt the barrel I want, attach its dedicated scope to it and go hunting.
To my PH friends who ask, my answer is that I know full well that the purpose of checking zero at the beginning of a safari is not to check the rifle, but to check the hunter, and that if they are comfortable with me, I am comfortable with the rifle
PS:
I happily oblige PHs with whom I never hunted before