Hello Hulse, a friend of mine cut his .308 down to 16" put on a thumbhole stock and Ace Ultra (S5?). It shoots very very using 130gr SP's and has taken many Red and Fallow. A very handy rifle.
The only other thing I would comment on is the moderator, the Northstar. There's nothing wrong with it as I have one on my 7mm-08 and am very satisfied with it, stainless, rugged and quiet but . . . I've also just bought a Hardy Gen IV for another rifle (6.5x55) and it's excellent. Very light over-barrel mod with an integrated muzzle brake which is as least as quiet as the Northstar. It's so light it almost brings back that nice feel of an un-moderated rifle! Just a thought . . .