It's nice to know George doesn't have a problem doing them on the 700 either.
It would be better to use a custom action for a few reasons, but the 700 will work fine. You just have to weigh the reasons for both and decide wich fits the bill for you.
Longer than 32" and I'd choose a custom like BAT. Shorter and considering it has some taper to it, I'd go with the 700 if price was a factor. Quality work and using a quality barrel will produce equal accuracy which ever you choose, IMHO.
My wifes 30/338 Lapua Imp and my brothers 338/378 Weatherby are both on 700's. He has about $700 into his rifle, not including the action. Note: His stock was a Choate Tactical, and only cost him $130.00 tho.