I have a stainless sps 30-06. I tried what you are mentioning doing and I may suggest that you will be better to buy a new stock. You can pick up a great laminate off of ebay. I got a new one for around $100.00 do a search for "Remington 700 stock
". That being said I did do a successful bedding job on my sps stock. I removed a lot of material and really built it up to make it work. I bedded the entire action and about the first 2 inches of barrel. This sucks to do because it burns up a lot of bedding material. I used the Devcon plastic steel epoxy and it is simply amazing for this job. I cut down a large portion of the recoil lug area. Then I created undercuts for mechanical retention. because of the hollow design of the stock and the way that they created a plastic pillar for the front guard screw it makes it very difficult to use new pillars and this is why I recommend that you go with a stock swap. You will be most happy in the end I assure you. If your situation is that you cannot get a new stock, I would try to bed the sps and make due. The bedding job on my sps stock reduced my group size by approximately 35%. Here is a you tube series of videos where a guy beds his SPS Varmint 308. A little bit different stock design on the outer but the inner design is the same and it should help. His method is very similar to what I did to be my SPS.
YouTube - Remington 700 SPS varmint bedding therifle action part 1/9
This is the first video in a series of 9 total that takes you from start to finish for this job. Make sure that you watch them all he is quite thorough. Good Luck.