What's the point of a 30-06 if loading to 308 pressures? Not that it's not capable it would probably be fine with a 20" barrel. How heavy depends on what type of target shooting you will be doing. Recreational shoot as fast or slow as you want to or F-class multiple rounds of 20rds in 20min plus sighters. I would probably go with a magnum contour if I was doing more hunting with the rifle, but personally I prefer the Varmint Contour. I also prefer a 26" for precision shooting, but would probably go with a 20 or 22" prefered for hunting. If you go with the 20" barrel you'll probably want to stick with 175-185gr bullets for target shooting as you won't have the barrel to push the heavy target bullets as fast as you may prefer.
This is why I plan to build my next rifle in 6.5-06 A-Square. All the benefits of a 30-06, ballistics similar to 300WM, but preforms like a 6.5-284. If you aren't hunting anything bigger than white tails or something only slightly larger than that is the route I would go for a rifle that can do both.
On a simple note the thinner the barrel you choose the longer you'll want to wait in between shots when shooting for long range precision. The shorter the barrel the more limited you are on FPS you can generate. Speed doesn't always mean accuracy, but if you can get it there faster and be accurate there's less that can mess with your shot between you and your target!
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