I am no fan of them even though they have a huge following with millions sold. There are other options out there for less money that perform just as good if not better IMHO, especially for the same or less money. I would look at a Savage in a similar set up in particular. Features that are upgrades on the 700 are standard on the Savage (removable magazine, adjustable trigger).
What I find interesting on the 700 is the trigger controversy around accidential discharges. I may be paranoid, but I'd sure want the new trigger and not a classic rifle without the upgrade:
http://usatoday30.usatoday.com/money/industries/manufacturing/2010-10-20-remington-700-trigger-cnbc_N.htm
Finally, if you really want to go long range, I'd go with something flatter shooting than the .308.
Cheers,
George