I appreciate all the help and suggestions you have given me!! I want to personnally thank Kirby - I emailed him with several NOVICE questions and has politely answered them all, and he doesn't know me from the man on the moon - Thanks fiftydriver!!!
Here's what I have decided to do after all this great info:
My rifle was sent to Jim Borden (Pa guy not too far away with great references) for a complete "Borden" pillar bedding/action bedding. I had the McMillan "Edge" series stock that comes with aluminum pillars. Jim explained to me in detail what a real pillar bedding job is. Yes, I had aluminum pillars in my stock, but is wasn't PILLAR BEDDED!! He expalined that most of the time, accuracy problems are in the action or in the bedding of a rifle, and not always in the barrel. He said that his process uses alot of bedding material along with fiberglass pillars that he uses in his stocks.
I also relalized the money I would spend on a new barrel, trueing the action, and accurizing this rifle - I could use this money as a down payment on a truly built custom.
I also learned from Kirby that trueing the action and re-threading a Sako action is pretty much a nightmare due to the metric sizes used to build them.
When I get my rifle back from Borden rifles, I am going to try different factory loads too, and see if it will shoot 1/2" groups. I think the bedding job is going to help!!
I also think I need to get a little better scope mounting system - I don't have full confidence in Sako's Opti-Lok mounting sytem - too many "loose ends" in this sytem!!
Anyone try the older Sako Mount?? Also waiting to hear from Richard Near about when his stuff will be ready for a Sako 75 action!!
Man I thought archery was addicting!!!
Again - Thanks to all!!