You guys are all a great source of knowledgeable info and it's much appreciated. My proposed rifle would be used for ELR so weight isn't critical, since I won't be humping it through the brush.
I don't have a budget yet, but your inputs are helping me develop one. Money doesn't grow on trees so budget isn't unlimited, plus I do have a wife so the project must ultimately meet the "wife test." I got a good one, though, and she's pretty understanding.
Given the numbers I'm seeing, it's likely I'll build this thing over time, one piece at a time, especially since I'll want the assembled components to be capable of ELR precision, which is the only way I'll ultimately find out if I'm capable of ELR precision. Regarding re-purposing the barrel, I'd forgotten about the gas port, thx for mentioning that, P7M13. I do like the idea of easily-changed barrels, although that alone is likely a force multiplier for this addiction we're all enjoying (some wives might instead say "suffering from").
Pls keep the info coming, and especially your results with your chosen components. I'm researching every item mentioned since this is a great education when converting from gas guns, which I'm familiar with, to the interaction between the components of bolt guns.
224 Valkyrie is not a suitable ELR caliber. The ballistic coefficient is too low and the muzzle velocity too, even with a 30" barrel. Beside that, with the type of targets you shoot at for ELR, spotting your misses is very important. Most people say .338" is acceptable but .375"+ is better for creating "splash" on a miss.
For those reasons I chose 338 RUM for my entry level, fairly low budget DIY ELR gun.
I did preorders for my action and chassis so that was a little under $2,000, my barrel was a little under $700, I bought my trigger on sale for $216, my muzzle brake was $195 and my magazines were $85 each I think. So about $3,200 for the base gun.
For now I'm using a scope I have on hand but eventually that's going to be another $1,800 expense for a Tract 34mm tube scope and some ARC rings I have. I could spend a lot more if I wanted and if I went nuts, a Charlie Tarac attached to an NV bridge wouldn't be cheap.
I'm also working on a linear bearing bipod mount like Mark and Sam after work which I'll attach my Ckye pod to. That's about $700 with my rear bag to make a portable/light weight almost a benchrest setup.
The preorders saved almost $800 on my action and chassis but you could go for something like a KRG Bravo and a trued Remington 700 for less. For a 338, you will need a brake but I needed a self timing brake so you could save some money there. Single shot doesn't need a magazine.
My rifle may seem expensive but it's cheap compared to a custom built for 338 Lapua Magnum or one of the .375" up ELR rounds.
Reloading gets expensive too. Bullets cost at least twice what you would spend on 224 and solids for real ELR work are even more. Powder is about 3-6x as much. Brass can be a really big expense. Dies can be expensive if you choose an uncommon/wildcat round. If you go big enough, you might have to upgrade your reloading press. I was looking to see if a Lee APP press could be a good dedicated depriming press for me but 338 RUM is too long, I'm not sure if I should get it for my other reloading.
You should know what you are getting in to if you have to justify it. I only have to justify my rifles to myself and that is why my entry level ELR rifle isn't the type of thing you would see on the firing line at King of Two Mile. It is going to be nice but as much as it cost, budget was a huge factor.