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M40A5...what to do???!

Yes sir all depends on what you want to do with this rifle if you already have common round do it all rifle then I would go
6.5 creed or .260 so you can really stretch out and touch something 1000 yards plus accurately.
 
I have a bunch of. 308... like them all..but a 260 or a 6.5x47.is calling my name..i have a 6.5x55 sniper so i can use common reloading components...i have everything for a USMC Spec build but barrel..i was going to order a a Schneider this week
 
There you go sir I'm the same way I have 3 308's and love them but I'm building a 260 that's been calling my name I just want something that has better ballistics less wind adjustments and a lot less elevation. This is probably going to be a great build be sure and post pic of your new stick project.