I've bought two 700 SPS Varmints in 7mm08 to build from over the last two years. I mainly bought them for the barreled actions, nothing more. If you want to customize the rifle and build off of the action then it is well suited for that. Accuracy wise, both of mine are tack driving machines.
The rest of the rifle is crap. The stocks suck, flimsy, poorly fitted, uncomfortable, blocky and cheap, cheap, cheap. The trigger is barely adequate and to me junk. The finish is little more than automobile primer.
The rifles i've put together are fantastic though.