Regarding velocities, I have chronographed carefully-handloaded .303 ammunition from the same box as it was run through a Mark III Ross with a 30.5" barrel, and through an SMLE Mark III with a 25.4" barrel. All rounds were shot in identical circumstances, within a 1-hour period. Both barrels were tight and bright, as close to perfect as made no difference. The loads themselves were target loads, somewhat modest in performance but very accurate. Ammunition fired through the 25.4-inch barrel of the Lee-Enfield averaged just over 2300 ft/sec while that fired through the longer barrel of the Ross came out at a bit under 2500 ft/sec. The advantage in favour of the Ross averaged about 160 ft/sec. Given the 29.13" barrel of the 1908 Mauser, I would think it very likely that performance would be in this order of advantage over performance as measured in a 24-inch tube, given the identical loading. Thus, I do not think it impossible to obtain 2900 ft/sec from a Brazilian 1908 Mauser.... and still remain within relatively modest pressures.
My late longtime range buddy and I tried out a pair of these 1908 Brazilian Mausers over a period of years. The GOOD one (perfect bore) was easy to coax into sub-1-MOA groups using the factory sights; scoped, it shot .5 MOA regularly. The second rifle, which I have, has a visibly worn leade but, with the original irons, still will group 1-1/4 inches off the bags. I am keeping this rifle (the BAD one) in memory of a very good friend.... and for its serial number. It is Number 25.
You will NEVER regret buying one of these truly FINE rifles.