As much as I love them, unless the M1 has some collector value (already menitioned), I'd steer away from it if your intent is to hunt with it - unless you'd rather hunt over open sights and carry a very heavy (comparatively) rifle in the field.

A GOOD scope mount for the M1/M14/M1A is extremely expensive. Check your local laws as well regarding magazine capacity before you push a loaded M1 stripper clip into it. The M1 wasn't ever meant for hunting, and its design features show. Bolt-action rifles are much safer and simpler to operate.