Firstly, to address our moderators comment that the SKS is "Not a Hunting Rifle". I'm sorry, but that attitude is exactly why the firearms community is so divided. Intolerance for anything that doesn't sport a bolt or a lever will get all sportsman sold down the river. "Divide and Conquer" is the mantra of the anti's, and like it has been said: They won't ban your bolt action hunting rifle.....they'll make sure they call it "A sniper rifle that's 100 times more powerfull than the gun the police use!!!"
SKS "not a hunting rifle"
Neither was the Lee Enfield .303....yet there are more enfields in the bush than anything else. Any issue with calling my #4 .303 a "hunting rifle"?
The SKS actually makes an outstanding bush gun, at roughly 1/4 of the price of my Ruger Deerfield (Gasp! ANOTHER military derivitive!) The short sight radius and semi auto action are very well suited for hunting in the Boreal. The 7.62X39 Cartridge has ballistic performance that is virtually identical to the 30/30 winchester, and there are a few ammo makers (Federal, etc) loading PSP HUNTING ammo in this cartridge. Epps has a few boxes left.
I can't help you with the left-hand questions,. but as for the magazine, it will come limited to 5 rounds right from the dealer (as per the law)
As far as it going prohibited: The Liberal Party of Canada has stated in it's official policy and platform that, if elected, they will ban all semi-automatic long arms that share military features (sounds safe right?) Heres the punchline: These features include REMOVEABLE MAGAZINES. I guess my Deerfield, BAR and 7600 are going to the smelter.
The key here is to not let them win. As far as grandfathering, the unoficial word on the street is that they will be required to be turned in for destruction, as grandfathering does not get them "off the street".
My advice is to spend the 200 bucks, practice with it until you are top notch, then buy some suitable hunting ammo and hit the bush.
There is no such thing as a "bad" gun. They can all be excellent tools (or horrible weapons)...it depends on the user.

Enjoy!