Hi. The Remington 700 Long Range is the economy version of the sendero. It sells for almost half the price of the sendero.
The barrel and action are essentially the same, but the Long Range appears to have a matte finish. It comes with a Bell & Carlson M40 stock with the aluminum bedding block, while the last Sendero I saw came with a wooden stock, which will give a greater degree of accuracy than the wood stock.
Basically, the short lived SPS Long Range (economy model Sendero) and the Long Range are lower end Sendero rifles. The Long Range has all of the features of the Sendero, but (in my opinion) a much better stock at the expense of outward finish.
In my opinion, go with the Long Range!