I'm partial to the Model 70, and couldn't find any rifle with the features i wanted (i'm a lefty); and the guys at Montana Rifle made an awesome barreled action for me: LH action, fluted stainless bbl, in .243win, with a fast twist for heavy (deer hunting) rounds. Their action is called an M99, and is a design based (and improving) on the M70.
http://www.montanarifleco.com/actions.html
I can consistently hit orange price tag stickers at 200yds with it...which i can't do with any of my other rifles!
Their prices have gone up since i was a customer, but take a look at them.
Also, while building stocks is a great project, CDNN has Win70 stocks from the New Haven plant for a lot less loot than you could make your own. I went with an AAA claro walnut AI stock on mine, which i do not regret at all, but if i get around to another one while CDNN still has some stocks in stock, i'll be going that route.
Have fun with the project!
ETA: just saw the .300WSM part of the original post - look on Gunbroker or elsewhere for a CZ Model 3. They are rifles that were made by Montana Rifle Co. with their M99 action under contract for CZ back in 2004 in the WSM calibers. (I have one in .300wsm too.) Since most people don't know about them, you can find them undervalued by ignorant sellers. Mine is identical to the Montana Woodland they're selling for $2200 from Montana; and i got it for $650 on Gunbroker (actually it wasn't glass bedded; but for a split of $1550 a good bedding job is no sweat!) If i were in that market, that is definitely what i'd go for....and did.