I've been shooting and hunting long range since way before it was "cool" and have done it all with factory rifles that had quality stocks and triggers.
CatShooter has really told it like it is. He seems to have a very good grip on what it actually takes to make a rifle shoot.
Unless you intend to compete you'll get a hell of a lot more bang for your buck with a good medium to light weight factory rifle bedded to a quality McMillan or HS stock and spend the rest of your money on practice at long ranges and careful handloading.
Don't worry about neck turning either. Just buy quality bullets (Nosler Ballistic Tip for hunting), dies (I like Redding), and brass (Lapua is my favorite) and take a lot of care with seating depths.
Heavy barrels are only necessary if you want multiple shot consistency. If you're only going to be taking one or possibly two shots before cooling your barrel then you have absolutely no need for a fat barrel.
The most accurate rifle I owned was a Winchester "lightweight" 6.25 pound rifle in 22-250.
That rifle shot many a sub 3/8" (3 shots @ 100yds) group and the only work I ever did on it was to have the action and barrel bedded in it's factory wood stock and the trigger was tuned.
Careful handloading was the key and shooting form needed to be VERY GOOD because the rifle was so light.
I cooked the throat after about 700 rounds and sold it but up until then it was an incredible shooter.
I have several 700VSSF rifles and they are all quite accurate and easy to bench but no more accurate than my McMillan stocked hunting rifles that weight from 5.75 pounds up to 7.25 pounds for the first shot or two.
The key is with the light rifles is that your shooting form needs to be very consistent and you need a really fine trigger or your rifle will jump all over the place when you shoot. I've had excellent luck with the Rifle Basix offerings and they only cost about a hundred bux and even I can install them and I'm a Realtor not a gunsmith. [img]/ubbthreads/images/graemlins/wink.gif[/img]
I've found incredibly excellent value in the Remington Model 7 Custom KS rifles. They come with a McMillan stock that was bedded by the custom shop and very good triggers. Every one I own will shoot right at a half inch right out of the box.
They just took a huge price jump but there are still a fair amount of them floating around at old prices. I have paid as little as $800 for good used ones.
I'll list one qualification. If you get beyond about 800 yards you might need to go with a heavier rifle and a SOLID rest. Your mileage might vary but somewhere around there most shooters just can't shoot consistently without a heavy benchrest or prone type setup. Things can really get jumpy and although the rifle may be up to it, it's just REALLY hard to hold them still enough without the extra weight and sandbags or similar rest.