I see no reason why it won't shoot. You just have to build a proper rifle and use good brass/bullets. The bullets are a problem, unless you do something weird like use a .308 bore, but that's not exactly a 7.62x39 anymore... Better off using a .30 BR if you want something similar that's known to be very accurate.
Damon,
I specified a 308 bore. Ruger and Savage and CZ said that their 7.62 X 39 were all running a 308 bore. I measured my Lapua cartridges and they were 308. All my Czech guns are 312 or 313 bores and so are the AKs I believe. I think they do that so the guns will run poor quality bullets and ALSO that clearance lets the gun run cooler. Accuracy drops to 4 MOA or worse.
I did that long ago and found that the bullets were uniform. Not saying that it isn't true but only that that was not my finding at that time.Is that for loaded ammo? If so pull one and measure the base. Almost all Russian ammo is 308 but when you pull and measure below the crimp line its .311 or .310-312
25 Years ago I bought a Chicom SKS, parachute model along with 1000 rounds of Wolf ammo. The gun cost $110 and the ammo $100!
I took it deer hunting on a lark and shot a nice black tail, one shot, one kill.
I put a $20 Chicom scope on it and couldn't hit the broad side of a barn with it.
15 years later, I moved to an area with a great shooting club and I found out they had monthly Vintage Silhouette matches. Well, the SKS was all I had that was legal for the matches. I never did real well, but the darn thing would hit Rams at 500 yd! "Course, it didn't have enough poop at 500 yd to knock them over. This was with cheap Wolf ammo. I developed a bit more respect for the SKS, but without the useless scope!
I still think a decent rifle with a good barrel would be a real shooter in 7.62X39. Even my SKS is good for California Black Tail and has accuracy as good as the average hunting rifle. And, it'll kill deer and pigs easily.
If you're looking for a truck gun that will handle nicely and shoot well build a .308 x 39mm rifle with a 18" barrel on an old Savage action with the PPC bolt head. Use the Hornady 125 grain SST and it will cleanly take deer, drop hogs, annihilate raccoons and send large rats to the moon.