The next time we find ourselves saddled with a Liberal government, chances are the magazine capacity of semi-auto rifles will be further reduced. Be the first kid on your block to own a single shot AR-15!
Seriously though, if its a single shot rifle I'm looking for, the answer is clearly the Ruger #1, arguably the best looking factory rifle in production today. While I don't have a huge amount of experience with them, the ones I've used have proven to have decent triggers and shoot well. For recreational target shooting, there's no need to go with a match grade bolt gun, unless that's what floats your boat.
When it comes to glass the problem is a bit more complicated because the rifle could be used under so many different circumstances. But if we stay with the premise that the purpose of magnification is simply to allow once to see his target, and that .223 targets tend to be on the small side, I'd look hard at a 4-12X40, probably a Leupold VariX-II.