By the time you replace the bolt you are within only a few dollars more of a custom action that has better spec's and features.
The factory 700 bolt is a compilation of several pieces that are all induction brazed together to create the bolt.
To mill the slot required for an M16 style extractor means you are cutting completely through the braze that holds the bolt head to the bolt body. Many of us believe this significantly weakens the integrity of the bolt. The reason most of the custom action makers, including us, make 1 piece bolts is so as to avoid this situation.