most likelywont loose any velocity,

heres a quote from swat magazine on a test that tactical operations did on barrel lengths and velocitys with a 300 win mag

To find the answers, Tac Ops took a 26-inch barreled .300 Win. Mag. and chopped the barrel down in one-inch increments as they previously did with the .308 Winchester. Ten rounds of Federal Match 190-grain BTHP Gold Medal were fired from each increment. No velocity was lost from 26 inches to 22 inches. Velocity loss started to occur only after they went below 22 inches

to read the full artical go to
http://www.tacticaloperations.com/

then to articals and the SWAT dec-2000

Making the 7 mm mag the equivlent of the 30-06 isn't a problem, as I would prefer the 06' anyway. And I find it hard to see a noticeable difference in handling between 24" and 26" since most of the time it will be carried slung over your shoulder anyway.

I'm a fan of 26" barrels for magnum powder burners, but if ya really-gotta, you won't lose that much. And you can adjust for things even a bit more with powder and bullet selection. I would probably own a 7 mm if i lived in Montana.

Thanks for the replies guys. Was worried that accuracy might be affected but doesnt look like thats much of a deal. Was going to have the barrel rer-crowned after the cut too - forgot to mention that in the original post.
Looks like I might have to start savin to buy this gun from my old man and start savin for a scope too! Thanks again for the replies guys