I like Rugers, I have two mk II's, a .308 ultralight and a 350 rem mag. Both very accurate rifles.
That said, PWC cut to the chase in advising you to sell it. Let's say you get a featherweight synthetic stock made, and have the action milled out and the barrel fluted. You'll be out about $500 for the stock, and $500 for the machine work. The rifle won't be any better then say a Kimber montanna, and likely still heavier.
The point is, if you really want a light rifle, don't compromise or waste your money. Let's say you dump $1000 in the ruger and you still aren't happy with it. At best you'd get $700-800 after dumping $1k plus the price of the rifle. With a Kimber montanna or remington ti, you can get a used one for a tad under $1k, and if you don't like it, sell it for what you paid for it.
