Certainly, many people have done essentially the modification that you are considering, and it seems a lot of them have been happy with the results. It also seems, though, that many end up spending $1100 - 1200 - 1300 on the project, and I can't help but wonder if they wouldn't have been better off just buying what they wanted to begin with. True, there's enormous satisfaction in building your own custom, but from a pure dollars-and-cents perspective it doesn't often end up making a great deal of sense. For one thing, if you ever decide to sell it you will find that you're going to lose a large chunk of your investment. A buddy bought a Savage 12FV .243 a few months ago used from a pawn shop for $500, and if any modified Axis shot better I would be shocked -- but I'd be very interested in seeing it!
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