1974 111 for semi custom build?

Hello all, been thinking I want to build a savage for a couple years now, finally have a little money set aside, so it's time to start.

The pawn shop in town has a 111 in 7mm rem mag, with a blind mag, for 225$. Using the serial number chart in the sticky it shows being a 1974 model.

My plan is to rebarrel into a undecided caliber yet, either a big 7, a 300wm or one of the 28/30 noslers. I'm really leaning 300wm for brass and ammo availability at this time.
Haven't decided what stock I will use, I used a Boyd's pro varmint on my howa 6.5 and like it, but I may spend a little more money on something else this time.
Have a dbm and mag setup installed (accurate mag maybe)
Decent aftermarket trigger.

I already have a vortex viper post 4-16x50 waiting on a new gun.

Primary use will be hunting, everything from the very occasional (ie backup) antelope gun, through elk in the western states. I'm hoping for a sub 11# gun, which should be doable, that can consistently shoot under .75 moa.
I am setup to reload, but do not own dies or brass in any caliber I'm looking towards, though I do load for 308 and 30-06 now.

My question; am I handicapping myself by using this old of a receiver to start? The model 111's can still be had cheaply around here, but 10/110s are crazy high used. My budget is fairly flexible, I have 300$ to buy a donor rifle set aside right now. If this 111 will work, I'd like to grab it before it disappears. If it shoots good I'll toss my scope on it and use it as a backup gun in wyoming for antelope this year, while I wait on barrels and parts to be made/delivered.
The lawn shop has another 111 in same caliber that I didnt look at, seems a little newer, for about 50$ more money, should I look further into that one?

Thanks for any info!

If you plan on using the DBM, check and make sure it will work. The 1974 rifle is stagger feed and I think that there will be some milling required on the action to open up the mag port to allow the use of the DBM. Stock should be available, standard long action.

Pawn shop had a newer model 111, with a cheap bushnell scope. Looks like the package deal from 2003 time frame, it was only 15$ more, and the barrel/stock are in fantastic shape. Figure I can offset a few bucks via Ebay selling those.

I built my .260 rem off the newer model 111... It has worked great. Mine is bottom bolt release, Center feed DBM.. if I could have found a top bolt release, I would have preferred to have that one.

Just my experience.