Basically, yes.
I should probably be a little more aggravated about the situation, but I understand stuff happens. That being said, in a short action 700 I am not sure there is any other option above a .338 Federal other than .358 Win.
As far as the .358 goes, I'm just not a fan of the cartridge. I had one years ago in a Browning BLR, and it's just not my preferred round. Plus, reasonably priced hunting bullets in .35 cal are simply unobtainable right now...whereas, I have literally over 1k .338 bullets sitting on the bench ready to load.
I'm thinking you'll have no trouble trading that 358 bbl action plus cash for another 243 or 308 to start over with.
