I think the M700 is fundamentally a better-built action in the first place, and if you go with a well-selected used doner rifle, that action can be had for an extremely favorable price. So it's better and cheaper from the get go, and blueprinting and fine-tuning is a straight-forward proposition. Stuff that starts out as better usually ends up that way as well. That's my experience, anyway.
I also think that the Model 70 action, in just about all its guises (except for the mid-60s), is a better action as well. The pre-64s were machined from barstock, and the post-64s were forged, then machined. That's for starters, and once again, doner rifles can still be had reasonably.
AD