The scope you have is just fine for ranges out to 700+ yards. Spend your money on ammo.
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You could upgrade to a CDS MOA dial or M1 turret for the elevation knob and that would be a big help dialing in the ranges. You could change out the reticle to a B&C or LRD too.
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I'd either learn to use the scope I have, or do this. Call Leupold and get an estimate to upgrade the scope you have.
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But that light rifle & the 300mag is going to be a little harsh on you
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Winchester uses a standard weight barrel in their magnum FW rifles. They just use the FW stock so they don't really weigh than much less. Actually a FW in standard calibers is not particularly light by modern standards. He won't have any more problems than with any other standard weight rifle.