Short Actions for Long Cartridges
Sure. Been done for years, mostly for guys in the same situation as the hunter who started the thread: they have a perfectly good short action (Rem 700) and need to shoot longer cartridges.
I've personally done it on two of my guns. Goes something like this:
1) Open up the bolt face as part of blueprinting the action
2) Install a SAKO or AR extractor
3)Install a Davidson or similar plunger style bolt stop on the left side of the action in a position to maximize bolt throw dependent on the cartridge you are using
4)mill out the rear of the ejection port to bring it back even with the new position of the bolt face
5)milll a chamfer on the inside of the front of the ejection port to assist in ejecting an unfired cartridge.
6)Glue a ssingle action loading plate into the magazine cutout.
What you will end up with is a reliable single shot short action; I have used it for cartridges up to 300 WM, and can eject unfired cartridges loaded with a 240 gr SMK.
Drawbacks: It's now a single shot. I mitigate that issue with bullet holder ingrated to the stock just in front of the ejection port so a follow up shot is close at hand. Other than that, it is lighter than a long action for those to whom every ounce is important. Of course, you can always look for a long action to trade for your short action.
At any rate, yes, it can be done.