7mm is a great caliber. I have a 280Rem that shoots 168grain VLDs at 2850fps and it is awesome! That's enough power to take deer at 1k.
My 280 - Updated!
If you are going to rebarrel your rifle go with the 7mm Ultra Mag. That way you have even more case capacity. So you can load it down to 7Rem Mag velocities or crank it up.
With the 7Ultra you would probably be able to send 180grain VLDs at 3200+....AWESOME!