Im just in the process of putting together a light weight rifle as well.
Mine started as a new SPS in 7-08 which I ripped the barrel off of.
I put on a mcgowan sporter weight barrel which I turned down to a much lighter contour.
The stock is a Wildcat ultralight which came to me unfinished (minus a recoil pad and swivel
studs) and weighs 17.3 oz.
I had the bolt fluted, and bolt handle skeletonized. Inside, I went with a fluted gre-tan firing pin.
Im swapping from the standard drop floor plate SPS to an ADL style stock.
I did a quick weigh-in last night after getting the barrel turned down and spun on.
With the barreled action, bolt, stock and bottom half of my talley rings (no trigger, mag box,
top half of scope rings, recoil pad or scope), it weighs in at exactly 5.0lbs.
As for scopes, I'm currently on the look out for a Leupold VX-II lightweight scope in 3x9 with the LR
duplex.