A No. 1 may be a lot of things, but a toy it is not.
I love single shots, and consider them to be in many ways the ideal "stalking rifle" for deer of any species - but particularly whitetail, red stag, and roe deer. I have never had a desire for a big bore version for dangerous game for all the reasons that
@Scott CWO mentioned. And as others have noted, the recoil from a No. 1 in such a loading can be rather brisk.
As
@rookhawk notes, more than any other production rifle of which I am aware, the basic No. 1 represents a canvas to create really unique firearms. I have posted these photos elsewhere, but these two No. 1's were purchased almost forty years apart.
The first started life as a .270 No. 1 B purchased through the Rod & Gun in Wertheim, Germany in 1975. I used it over the next five years to take a large count of roe deer, several red stag, and probably a dozen wild boar while stationed there. The engraving was done in Ferlach, and was a gift upon my departure to the States. A couple of years ago I had RJ Renner rework the forend and add sights and barrel band to give it a Germanic stalking rifle look that now far better matches the engraving.
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The second is in .300 H&H that I found at Hendershots some years ago with an unfinished stock. A great stock man in Virginia finished it, and I then had color case and rust blue metal work done by Turnbull. I think the result is very turn of the last century English stalking rifle, and I think it would fit in very well with any Gibbs with which it shared a gunrack. I have hunted it quite a bit as well.
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I would be remiss in not giving credit to what I believe is the finest single shot made today. My current favorite whitetail rifle is a 7x65R by Baily Bradshaw. It is long, elegant, and supremely accurate.
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So yes. Do find a great single shot. I would simple suggest it be in a chambering that will get a lot of use.