Cz-527v - .223
Looked hard at the CZ-527 Varmint, Kevlar Stock, .223 and ended up with the "same" rifle with the gray laminated wood stock. The difference in retail price, as of about June 1, 2009, at Sportsman's Warehouse was $629 for the wood laminate vs. $859 for the kevlar stock. Wish I had the opportunity to purchase the kevlar for the price you mention, but at the time, I was distracted with air rifles.
Besides the stock, the main difference is that the kevlar stocked version has a 1:9 twist whereas the wood laminate stock version has a 1:12 twist. Both have floated barrels and single set triggers. My limited research says that the 1:9 will do better with heavier rounds, whereas the 1:12 will be fine with 55 gr and light target loads. As I don't shoot competitively, and as most of my bulk .223 ammo is 55 gr. FMJ, I saved the $230 to spend on some quality glass for the rifle.
The CZ-527 Varmint, like most of the CZ rifles, is regarded as a very accurate shooter and near the top of the list for best buy value for an accurate, light-weight rifle. The only issue I have run across is the clearance of the bolt action from the rear bell of a scope, especially with low or medium mounts. Not usually a problem with high mounts, but it seems to me, shouldering the gun, that high mounts are going to be too high for the small comb on the stock, at least for me. I expect to add a pad to the stock and perhaps another half to three quarters inch of spacer on the recoil pad to get a good fit for my large frame.
I just purchased the CZ-527 Varmint after a very good experience with the CZ-452 Varmint in .17HMR. I have thoroughly cleaned the 527, but have yet to fire a shot. Rings are ordered and should arrive this week (I went with the Leupold 30mm). I plan to mount a low end scope to start with and shop diligently for some high-end glass. In the meantime, I will be burnishing the barrel and seeing how the rifle does with standard Rem .223 55gr FMJ and a Leapers 4-16X 44mm sidewheel AO "MiniSwat" tactical scope at 100 yards. Hope to have my first 100 yard groups by next weekend.
If your budget allows, and especially if you intend to shoot at ranges of 100+ yards with heavier (62 gr or heavier) bullets, then go for the kevlar version.
.223 bolt-action rifles I also considered and that you may want to look at for comparison are the Weatherby and the Savage models. All seem to have good reviews and many fans. I didn't care for the hollow composite stock on the Weatherby. The Savage wasn't available locally without special order, but is available on line. I didn't want to spend the money without holding the rifle.