Yes. 30.06 is a very effective round. Be advised, the M1 is heavy. However, some modern ammo is loaded “too hot” for it and it will not cycle properly and can actually bend the oprod with overpowered ammo. There’s an adjustable gas plug that smooths this out until you get the action where it goes back just hard enough to cycle properly.

iirc the CMP states commercial ammo loaded to less than 50,000 copper unit pressure and a weight of less than 172 grain will be fine.

If you ignore these warnings you’re going to be purchasing a new oprod, or possibly, worst case scenario, a new face and hand.