You have exactly what you have described. I got one and love it. Rechambered mine to .222. About the only difference with a regular long action is your receiver will have a shorter cut in the bottom for the magazine. Won't be able to put the longer cartridges in the mag if you were to rebarrel to a long cartridge some day. Can shot them one at a time though. I like the long actions. I have a 22-250 set up the same way. I would like to find one more.

Floyd