Sell the 700. Don't spend money and time on a entry level design.
Hmmm....assuming that's a joke....I won't defend the history and usage of the 700 action (even though, I do prefer Savage...).
I'd suggest a heavier stock.
This is pure physics...."equal and opposite reaction"....
Nothing tames felt recoil better than more beef under the action- and a quality recoil pad like Limbsaver- on every one of my rifles.