The grooves on a 2 groove should be around .311" and the lands .303". This of coarse is varies wildly due to wartime production, wear, etc. But they should have the same specs as a 4 or 5 groove. I believe if you look closely at your bore on your 2 groove, you will find that the lands make up the majority of the bore, with the grooves accounting for a much smaller portion. So technically they could almost be considered a .303" bore, that shoots .311" bullets

Freaky isn't it!? It's been quite a while sinced I've owned a 2 groove, but I believe I remember that right. I have never been a big fan of two groove barrels just for that reason. Plus the accuracy, while shooting a very good bore can be quite accurate, they drop off very quickly and even keyhole when they are worn. Wereas a 4 or 5 groove can be like a stovepipe and still shoot a half decient group.
Edit: This of coarse is just my opinion, lest I get beaten to death by a 2 groove Savage owner on my way to work tonight