I rebarreled my old R700 to use for work, and bought a Mauser M18 in 308 as a lightweight hunting rifle. It's based off the R700 long action, cost me $400 from EuroOptic. Paired with an illuminated Primary Arms 1-8 LPVO, it's put the smackdown on deer for a few years now. Light, fast, handy. I've shot steel out to 600 yards with it, but the farthest deer I've killed was about 70 yards.
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It's not fancy, but it's well built, the price was right, and I've been pleased with it. My total cost was around $900, with optics, rail, rings and sling.
While I was in Germany, two friends of mine got to tour the Mauser/Blaser plant. The rifles are made with the same equipment, by the same employees, under the same roof. That Mauser was a bargain for the money.