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On the fat bolt, you're basically right. Weatherby utilizes this design on either their Mark IV or Mark V, can't remember which one, maybe both. The T/C Venture also has a fat bolt and I've seen a couple of 50 BMG actions that use this. Just google the image for the T/C Venture and you'll see it beside a Remington bolt. Machining the recess for the locking lugs could be tricky I guess but shouldn't be a horrible undertaking.
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