I have gotten two of them. They were definitely "$300" guns.
An 18" R700 BDL, gloss wood stock, blued barrel, looked like it fell out of the truck on the way home from a hunt. But the action was fine. Which is all I used.
A 22" .260 BDL that was surface rusted, and barrel was pitted. Plastic stock scratched to hell, blued finish. Again, just kept the action.
But after spending money on them to get them even kind of close to the features I wanted, it makes no sense.
Square bolt face, true action and lugs, recut threads, extractor, flute the bolt, replace firin pin and springs, swap the bolt shroud, cut a side bolt release, tac knob, Nitride, and you have now spent more than about half the custom actions out there.
I won't do it again.
If you don't do all the "extras", you can be into an R700 for $500-600 with just truing/squaring one up.