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[Delfuego]

A talented gunsmith is important to long range shooting and can be the difference between a good shooting and a great shooting rifle. Your R700 (like all 700's) would benefit from some action and trigger work. This includes but is not limited to squaring the receiver face lapping the lugs and maybe recutting the barrel threads. This work is best achieved while fitting a new barrel. Getting a blank barrel fitted and custom chambered will give you the best results. Long range gunsmiths will have all the tools and reamers in their shop and the knowledge of how to use them. As for barrels; there are a lot of nice ones. I have a Mark Chanlynn and just got a Lilja, but Rock Creek, Shilen, Bartlein, Kreiger, Benchmark, Obermeyer, Brux and Hart are all good barrel makers, lots to choose from!

An internal BDL type box for R700 is a nice addition to allow you to load more rounds and have a hinged floor plate. Sometimes they can be found used when people upgrade to DBM's.
http://www.brownells.com/rifle-parts/triggers-bottom-metals/adl/bdl-conversion-kits/remington-700-adl-to-bdl-kits-prod340.aspx?avs|Make~~Model_1=Remington__700&psiz e=96
For BDL's
http://www.midwayusa.com/product/818...-polymer-black
Or you can get a detachable box magazine (DBM) conversion, but they cost more.

I would double your optics budget (nobody ever wants to hear that), but glass is important. The Vortex Viper PST is a good scope. Good rings and bases are not to be overlooked as cheap ones may come back and bite you in the ass!

Don't bother with Choate stocks, look at Bell & Carlson for quality inexpensive long range stocks. A B&C can also be inletted for the BDL style hinged floorplates when you have it installed.

Long range shooting ain't cheap, but you can get a good setup without spending $3-$4k also. Some guys on here (looking at you Hoser) have more than that in just 1 scope! Once it's built, come out to one of the LR tournaments (Pueblo, CRC, WHAC) and you will learn a ton, I guarantee it!