The long action 700 is a good starting position. However you need to consider calibre and the projectiles (think BC) , case size but also brass source (think lapua), case size and overall rifle weight (recoil and fatigue), scope mounts and scope (elevation range, magnification, clarity, reticle style and your RF interrelationship, moa or MIL try to get the same in both, etc). For a hunting target combo the 6.5/284, 284 win are good choices both will get you to 1000 m for targets and steel using high BC pills. The long action will assist hand loading.