I've built a number of rifles out of P-14 and '17 actions. They've all been memorable.
My current main competition/Palma rifle is a .308 built out of a '17 action, with the mag opening welded to make it into a single shot, and the original recoil lug removed and replaced with a Rem 700 style recoil lug. It now wears a new JC Custom barrel with a 1-11.5 twist, six groove (as per JC's recommendation). So far, it seems to be a solid 1/2 moa shooter with Sierra 155s at 2,960 out of the 30-inch barrel, which is what I use for competition.
I previously had a P-14 that I had rechambered with a .300 Win Mag reamer to create a ".303 Win Mag." It started life as a sporterized .303 that I bought at a gunshow for $40 in 1999. That rifle shot like a laser until I burned the 1914 barrel with 70+ grains of powder for each shot, and I then took the rest of it apart for parts.
I also have a Remington '17 in .300 Win Mag, which wears a Shaw #3 contour barrel. It once was one of my most used rifles, and it was the first "custom" rifle that I had a gunsmith put together in the late 1990s. I haven't fired it in a few years, but it would regularly shoot any decent .30 cal bullet into between 1/2 and 1 m.o.a. when pushed with H4831.
I recently put together a .300 Win Mag hunting rifle out of a P-14 action. I did all of the work myself on this project, except for installing the barrel and drilling and tapping the receiver. (I'm no gunsmith, but I ground the ears and contoured the receiver, opened and polished the feed rails and the internal dimensions of the receiver, cut and re-shaped portions of the receiver, polished and blued all of the metal, lapped the bolt lugs, built a sporting stock out of an old military stock by adding wood and then re-contouring it to build in a pistol grip, bedded the action, etc.) It wears a #2 contour E.R. Shaw barrel and will put five 175 Barnes LRX bullets (launched at 3,170 fps) easily into 3/4 m.o.a. at 200 metres if I don't overheat it--and this is just one of the first loads I've tried in it. The rifle fits me well, and I went out on a limb and added a screw-in Anschutz handstop so I can shoot it prone with a sling when the mood suits me. I've been able to make first shot hits on rocks out to 650 yards in the limited amount of shooting I've done with this rifle so far. It has a Timney trigger, but the original cock-on-closing striker.
I also have an ERA P-14 that I have used with iron sights. With IMR 4320 and Hornady 150-grain .303 bullets, I have been able to shoot 3-4 inch groups at 300 yards, if I read the wind correctly. This is with an original 1914 barrel and my Central No4 competition rear sight.
I think these are great actions!
