Been playing with these actions for years. They work really well and can make some very nice shooters.
At present, I have a P17 converted to #### on opening (essentially a Rem 30), Timney trigger tuned very light, Douglas XX match barrel in 308 12 twist, and a Boyds varminter stock. Set up for cast bullets, it will also shoot jacketed into very small groups. I wouldn't use a P14 action for the 308 case. You might get extraction issues. Swapping bolts is more a headache then it's worth. Get the smith to modify the extractor so that it will close on a chambered rd (ie push feed). Simple job.
I prefer these actions over the Mauser but the Mauser has more aftermarket.
The P series of actions are built like tanks so also can be used to make affordable magnum cannons.
If you do alot of the work yourself, they make affordable actions especially if already sporterised and set up for a scope. If you are paying a smith, the hours will rack up quickly and is no longer cost effective.
However, at the end of the day, you still have a converted surplus action so resale is not the greatest.
I have probably built over a dozen rifles on surplus actions, most of them P series. Until the Stevens, certainly the way to go for an affordable toy.
As to cartridge choice, why limit yourself to a 308????
Since you are working with a barrel blank anyways, find out what cals/twist he will offer for the same price. My first choice would be a 6BR and a 12 twist for moderate/long range or a 8 twist for LR. A 22/250 and a fast twist is really nice too.
Then there are the many 6.5's and 7mm to choose from. Way better ballistically then the 308 so end up being 'more' accurate under windy conditions and longer ranges.
Jerry
Here is the 6.5-06 that was just sold.
300 RUM with a 35" barrel.
308 Cast BR rifle w/ Boyds Varminter stock
6.5 Mystic prototype rifle
My first project - 300Wby
