Doing the same thing. Mine is a Savage D mag package rifle. The scope and rings will be sold. I will add a muzzle brake
and a Hogue prefit recoil pad.
Don't fret the stock. It does work very well. You just need to mod it a bit. The first thing is to increase the clearance in the barrel channel. The foreend is flimsy so make enough space so that however you rest it, it will not hit the barrel. That gap could be 1/8" or more. I don't care as it will work.
My pillar bedding is actually very good. Will gouge out the plastic and bed the recoil lug and around the rear action screw. I will use Devcon Steel as it should stick ok to the plastic. If you don't take your rifle apart all the time, the bedding will hold. Where else can it go?
This is my second package rifle. The first, a 270, shot rds 4,5,and 6 into 1/4" at 100yds when I was sighting in the rifle. This was with it out of the box and a new scope. So the stock can and will work very well.
With the handloads, it now shoots inside 1/2" at 180yds if I can hold properly. Not bad for a cheapie rifle.
Took the same set up to 380yds to shoot at clay pigeons and had a 100% hit rate at that range. Winds were very light though.
For my 7RM load, I will be using 162gr SST and possibly Amax. Wonderfully accurate with very high BC and great on game performance. The SST will allow me to shoot from 200yds out to around 900yds. closer is possible but lots of bruising of meat.
I will try H870 and Fed 215M primers. Supposed to go 3100fps in a 24" barrel. Should be interesting to see if it works.
Good luck with your project...