Bryan,
Excellent perspective and comments! I've taken a bit different approach in 'rebuilding' a M700
chambered in 308 Win: Literally replacing everything except the action, extractor and plunger
(ejector), settled on a 'lightweight' 24" super match barrel. Opting for a very accurate first shot
from a cold barrel vs a heavier barrel which didn't necessarily provide any better accuracy for a
cold shot, yet was lighter and more portable as far as carrying while hiking/backpacking the back
country.
BTW, while I'm still 'fine-tuning', the rifle has alread demonstrated sub-MOA accuracy out to 300 yds. Utlimately, it will provide excellent accuracy with the first shot out to 700-yds, and still be comfortable to carry for miles upon miles into the backcountry.
If you can place your first shot exactly where it needs to go, there doesn't appear to be much need for a second, third, or more shots, period.