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Does a 300 yard rifle need the action trued and lugs lapped?

I am in the middle of assembling a .223 from an H-S Precision stock, an old Remington 700 action and bolt, a Jewell trigger, a ground recoil lug and a Criterion barrel with a barrel nut similar to the Savage. What do you think is the projected accuracy gain at short range (less than 300 yards) resulting from squaring the action face; from lapping the lugs; and from re-cutting the barrel tenon threads?

When do you think it is better to buy a custom action rather than spending money on a factory 700 action?

Thanks,

Cort
 
Frankly I think of the three choices most of the accuracy gain is from lapping the lugs which is fairly easy to do your self. Unless you are a bench rest shooter you should find accuracy very acceptable from lapping lugs, making sure your crown is sharp and concentric, doing or having done a complete pillar/glass bedding platform (or, if your stock has a bedding block, skim bedding your action to the bedding block) and copious load development. Free floating your barrel is a given I think. A decent trigger somewhere around 2Ibs. or less as well.
If you are a sling shooter you will find the 300 yd. target a very good test of your ability to hold and execute a good shot.
 
Lapping the lugs , bedding the action and having the front face of your action squared up would be essential for best accuracy. As I presume that the criterion barrel comes with standard Remington threading , I would definitely not recut the threads on your receiver.
Having the scope mounted with no tension on the action is important as well( bedding the base and / or lapping the rings or using burris zee rings with their inserts).

Nd
 

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