Something like this might be a good compromise.
http://www.stockysstocks.com/servlet...dermess/Detail
They are about 30-32 oz and look a lot like some of the varmint/ target rifle stocks. Cost is around $250. They are a decent stock for someone not worried about weight. The laminates and traditional tactical stocks are much heavier.
Like Taylorce1 I really like the McMillan Edge or other true lightweights. Mine are about 22 oz and some made by other companies can be as light as 15-16 oz. But come with a $600 price tag. Anything under 1.5 lbs is going to cost that much.
You can put your rifle in one of these, but the barrel channel is made for heavier barrels. There will be a huge gap between barrel and stock. With the sporter barrel and irons would look awful.
http://www.stockysstocks.com/servlet...actical/Detail