I have an original trapdoor 45/70, the 1884 rifled musket model. I've shot both factory ammo (the 405 grain bullet) and handloaded ammo with the 405 grain bullet and around 60 some grains of 2f goex black powder. The original case for the 45/70 was made of copper and could hold more powder than the modern brass cases, thus my reduced load. The 1884 model had a stronger breach block design than previous models, so commercial ammo of the proper pressure was used. the accuracy was pretty good, despite some barrel pitting. I reloaded those fired cases with black powder and pure lead bullet and accuracy was horrible. I suspect the pitted barrel along with a pure lead bullet was the problem. If I were to work on the loads for this gun again, I'd add some tin to harden the bullet, (the factory loads had a harder bullet), or try a paper-patched bullet.
I also have a 1874 Sharps Pedersoli repro model in 45/70 that shoot a 500 grain bullet, cast with a 30/1 lead/tin bullet. I first shot it with factory ammo with a 405 grain bullet and was disappointed with the results. I reloaded the factory brass with 2f black powder and a 500 grain bullet cast 30/1 and was still disappointed. I had a fellow that was very experienced in shooting black powder cartridge guns tell me that the chamber in the Pedersoli was rather long and the bullet needed to be jammed into the rifling for better accuracy. I loaded the bullet long in the case so it was jammed into the lands and accuracy was improved greatly. I then purchased some Starline 45/90 cases, and trimmed them back so the fit into the chamber and with the same 500 grain bullet, a fiber wad and 68 grains Goex 2f compressed about 1/4 inch and accuracy is excellent.
Be advised that the recoil of a 45/70 is rather stout.
And author Paul A Matthews has a number of books out concerning reloading and shooting the 45/70.
If you get the chance to inspect the bore of this carbine, (take a flashlight), I wouldn't be surprised if it was rather dark with some pitting. As long as it's not real bad, it shouldn't effect accuracy too much.
Lastly, at a gun show in Colorado Springs years ago, there was a guy who had a both and his specialty was converting trap door rifles into carbines. He was really good at his craft. At that time a good trapdoor rifle was going for around $600 but a carbine was probably worth twice that, so I imagine his business was pretty good.