There may be some confusion in how I described the problem. There’s no problem with the camming ramp that is machined into the bolt body. When the bolt handle is raised, the firing pin assembly is definitely being moved back into position. But, the problem is the bolt body hasn’t moved rearward far enough to release pressure on the trigger assembly and allow it to reset and hold back the firing pin assembly when the bolt is lifted all the way up then back down. I think the problem is that the ramp on the receiver and ramp on the bolt handle are not getting full contact while lifting the bolt, and because of that the bolt body isn’t being moved rearward as far as it should be when the bolt handle is lifted. If the handle was welded/soldered a little farther forward on the bolt body, there would be max contact between those ramp surfaces, and the bolt body would be moved farther rearward when the handle is lifted all the way up.
Why else would other 700 actions fully cock the firing pin back into position, ready to fire, just by lifting the handle straight up then back down again but this particular action won’t without pulling the bolt back a little farther? I doesn’t make sense that both scenarios would be considered normal operation.
As Dan said the two functions are happening at the same time but unrelated. You stated the trigger weight spring had been "adjusted" and you likely went to a very light setting on a stiff spring.
The bolt body has moved back far enough but the spring is set so light it is not resetting. Raise the trigger pull or change to a lighter weight, longer range (at the lighter weight setting) spring and it will reset sooner than it has to, again.
