My friend sent two 788's out to a custom gunsmith for a complete blueprinting and barreling with Krieger barrels in .223 Remington. He had McMilan stocks installed at the same time. They shoot amazingly well, as expected. My poor little old 788 in .223 Remington is pretty much stock, except for a Timney Trigger, and a bit of glass bedding. It shoots the 36 grain Varmint Grenade well enough for ground squirrels. I am thinking of sending it out to Pac-Nor Barreling for a rebarrel using one of their polygonal 1:9" twist Super Match barrels. My other such barrel shoots the 40 grain Nosler BT Lead Free under .25" although on a Savage Target Action.
The 788 or any other custom rifle made with cobbled together parts (my safe is full of them) are never going to recoup the money they cost, but I don't build rifles for resale. They are for fun and experimentation, especially if one has the money to spend.
