Nice weapon. It was in my short list of possible candidates. I'm leaning to the .308. With a different stock and a Timney trigger. My buddy Lloyd has the SPS Varmint .223, and loves it. I prefer the .308, they're easy to reload.
What's your opinion on the Savage 110FP? It comes in at 9lbs, but it's another reasonable price weapon.
If weight wasn't an issue, I'd be saving my money for a Timberwolf. Have you seen that sweetheart rifle? OMG, it gives me wood!!! lol.