For under $600 you can get a CMP Garand and have it recrowned, but that's an -06. You can also have it rebarreled in .308, but I do not personally know anyone who has the conversion. They do not scope easily, and are a bit heavy to lug around all day hunting, but mine is fine on stand.
If you went with the 700, I would put the heaviest barrel on it you could, as they DO heat up, and it's nice to get five shots off before they start to string from the temperture. As long as the face of the action is properly trued (also for the 700!) most any action of the proper sized bolt face and length would do. The HB Savage is a great option and a great value and would be affordable even bought new.