Don't think you can go wrong with that. If you have a place you can get it for $400 and are planning on re-barreling it anyway, go for it. Most places are out of stock for just a plain action that I'm seeing anyway, and if they were in stock, you would be paying the same price for one that you are getting this one for. Just check the bolt face and extractor and firing pin to make sure it looks like it is in good working order. As you said, you are also planning on getting the barrel swapped on it, etc... I would also swap out the trigger (Timney, TriggerTech, etc...). Easy to do by knocking out a couple of pins with a punch - just watch some YouTube videos because you will more than likely knock out the pin with the bolt retention spring and then have to figure it out how it goes back in again (yep, I speak from experience), but it's not hard or have your gunsmith do it when you have them put a new barrel on it and headspace it for you.
I'm more of chassis guy as I like all the adjustments I can make to have the weapon fit me or if I have to make any adjustments for another shooter, but that's just a personal pref thing. You certainly can make a standard stock fit you.
Sounds like a fun project!! Good luck and post some pics as it develops!!