The new AIA has a recessed boltface with a plunger ejector. The converted No. 4s have an unaltered bolthead. The L42 and L8 series of repeaters used a 7.62mm extractor and a magazine with an integral ejector. The Sterling conversion had an ejector added to the left sidewall of the receiver, and a different magazine. Canadian and L39 conversions were single shot. Basically you need a barrel, magazine, extracxtor and, depending on the magazine, an ejector. For a single shot, only the barrel is needed. UK conversions had the boltheads proofed at a higher level than .303s.
The other consideration is why you would do such a conversion. Its an interesting project, if you can do the work yourself, but if you have to pay a gunsmith to do the work, by the time you have paid for a rifle, barrel, magazine, and labour, you would be better off to buy an AIA from Marstar or Wolverine. Your conversion could be hard to sell for the money you would have invested in it. I am sure you are aware that there is a difference of opinion whether it is a good idea to convert a No. 4 to .308.