Keep your 223, and shoot 75gr Hornady Steel Match ammo...its easily sub-MOA @ 100yd in my Savage barrel and very easy to make hits out to 650yd with. <$25 per 50 rounds is good for a non-reloading college student's budget too.
After replacing the trigger, I'd probably get a quality optic & mounting system if you don't already have one before upgrading the stock.
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