I'm doing the same thing, mine should be done later this week. I'll let you know how it goes. The whole gun should weigh less than 8 pounds and has a 1 inch Pachmayer Decelerator.
As far as my personal recoil tolerance, I didn't like my .300 Ultra Mag, but could deal with it, if that helps any. I'm not planning on putting a muzzle brake on this gun. I suspect recoil should be similar to a .338.
Others have offered up a sighting of roughly 2 inches high at 100 yards as a good sighting scheme. In my own experience I have come to favor a sighting of 3.5 inches high at 100 yards. This allows for the individual to hold dead-on (directly in the middle of the top and bottom) the animal out to roughly 350 yards.
Magnum calibers such as the 7mm Remington and 300 Winchester will extend this slightly. At 400 yards I hold directly on the backbone of the animal. The drop at this range allows the...