I had a 300WM M24 solicitation rifle that used a PTG bolt with straight handle and the action and bolt were both nitrided. It was very smooth running and feeding. No issues at all and I wouldn't hesitate to use one. The issue is getting stuff from PTG... GOOD LUCK... They'll tell you weeks and you won't have it months and months down the road. I know people who have waited a year for stuff that was supposedly in stock. Unless Midway or someone has the one you're looking for in stock, I'd pass.
Also by time you start modding a R700, you will have almost as much money into it as a custom and if you ever go to sell the rifle you'll have a harder sale and take a larger loss. Not saying there's anything wrong with a R700, but when you're talking $350 to true it, $150 for a bolt, $100 to pin a recoil lug, plus the cost of the lug, then $100-$150 for a rail which most aftermarkets have built in, it's just not worth it.