I'll agree with two statements above, which effectively yield the purchase of 3 rifles:
1) A low cost, low recoil round to be used as a training rifle is one of the best investments which can be made. As Bart referenced, a 22LR at 100yrds is relatively good practice for a centerfire rifle like 308win at 600yrds. A 223rem fired at 600-800yrds is a fantastic trainer for a larger cartridge like 300wm past 1,000. In this case, a 223rem is my recommendation, as ammunition is incredibly cheap and readily available, and even if you DO reload, it only becomes cheaper. By getting a 223rem, you save on recoil, ammo cost (whether factory or reloaded), and barrel life, as you'll go 3000rnds+ on a barrel. This is the rifle with which you'll do the most of your shooting, as you'll need to practice more than you play. Consider this your trainer and short to mid range precision rifle. You'll not be in a bad spot if you don't reload this one.
2) Stepping up slightly, getting a cartridge which is capable of a little more range, but doesn't require a super heavy rifle nor a lot of powder (or high factory ammo cost) is another good investment. For most folks, this should be your "A rifle," where most of your "serious shooting" is done. Something on the order of a 6.5 Creed, 7-08, 260rem, even a 308win, 25-06, 243win etc. Nothing with a lot of recoil yet, but something which will push a .500-.600 BC bullet to 2800-3200fps, without beating you to death (i.e. 100-160grn bullets). This rifle is highly capable of hunting at mid-range, but will run out of steam for big game at long range. The disadvantages of using a 300win mag for THIS rifle are the high cost of ammo and high recoil (or high rifle weight), whereas the advantage unless you run a 30"+ barrel really isn't significant. The price of ammo here for 300win mag will pay for a new rifle in a more appropriate Extreme Long Range cartridge in a few short years if you're doing much shooting. This is your long range rifle, and ELR trainer. You CAN get away with not reloading this one, but generally the cost savings starts stacking up fast in this weight class. In this class, you're best off to choose a rifle with substantial barrel life and relatively low powder use, as you can over-spend on ammo and barrels quickly here and end up spending more on both than you would have on another rifle - like one chambered in the next step above this. If you need to kill game at 1,000, a guy could justify a 7rm or 300, but recognize you'll spend a lot more time on the training rifle above, or spend a LOT more money on barrels and ammo if you train with your magnum.
3) The pinnacle is the long range killing rifle. This is seldom shot, but when it is, the results are awe inspiring. Many guys go with 338 Lap, 408 Cheytac, or 50bmg here, which personally, I think is typically a mistake. Personally, for this rifle, I recommend taking a jump past the 7mm Rem Mag or 300 Win Mag to super magnums with 7-300, 300RUM at the bottom, 338 Edge, 338-378, etc. Something which will push a 0.7+ BC bullet as hard as your shoulder can tolerate, or as heavy as rifle you can carry. Most guys never develop the skill to actually capitalize on the difference between this level and the one below, which is why I believe so many folks bridge the gap between these two with rounds like 7rem and 300win mag, and never really do much shooting past 700 anyway. No matter which cartridge you choose in this class, the rifles are heavy, the recoil is high, the ammo cost is high (even reloading), and barrel life is poor. These are the rifles which let a real shooter test their own limits, and which let a wannabe shooter waste a LOT of money flinging shots at far away targets.
So 3 rifles - a 223rem, a 6.5creed, and a 338 Edge...