I'm a fan of 6.5x55. However, they are usually in a long action. I'm not as familiar with the 700's dimensions, so that's something I would check out, first, before deciding (there has to be guys here with 700s in 6.5x55 that would give you more info). Also, .260 Rem. or 6.5CM will get you to almost the same velocities with the same bullet, so long as you don't go with a short barrel.