RE: 7mm Ultra Mag
Didn't know they shot BR at 500 yards. Actually since its a hunting rifle I would shoot only 5 shot groups max. On my competition rifles I shoot 20 shot groups since we shoot 20-22 rounds per position. All dependant on what you are doing.
If you have your action trued and the bolt sleeved and then add a good top of the line barrel to the issue its gonna run about that much. Truing from a top line smith (I'm pretty picky- I used to use Krieger but I now am picky enough that their barrels are great but the chambering isn't up to my standards) is gonna run 200-300 bucks. About the same for the barrel and add chambering and you are at that mark. I may have erred just a bit in that I omitted the fact that 750 will normally include a brake since I'm talking mag rounds here.
You will note that I differentiated between the best and worst on barreling jobs. All depends on what you want and what you can use. A shaw barrel done by them will get me nowhere at nationals. An Allen or likewise barreling job on a hunting rifle in the hands of a neotype, they'll never shoot it well enough to see the difference.
Jeff