I have an SPS in .223 and a Howa in .308. Both are setup identically with heavy barrels in B&C tactical stocks, Bushnell Elite 4200 6-24x50 scopes, padded stock packs, Harris bipods, etc. Both are accurate to about 0.75 MOA on multi-group averages at 100 yards for 5 shot groups.
The Howa feels a little better made to me (smoother action, feels like better production tolerances), has a little bit better trigger feel both in the pull and the shape of the shoe, and has a nicer finish if that matters to you. I did add an oversize bolt knob to the Howa but haven't gotten to it on the 700 yet.
Either one would serve you well. Both of mine were made in the last three years.
If you're only going to shoot paper and under 600 yards or so, .223 is cheaper so you can shoot more.
Here is the Howa. I don't have a picture of the 700 handy.
