Now it has just enough clearance for the paper around the bottom and both sides, all the way back to the shank, the first two inches of barrel out of the action. The barrel shank is bedded, so the paper won't go there. I'll probably relieve the barrel channel a bit more all around tomorrow, in the interest of more rapid cooling at the range.
Now to shorten the barrel to 18", give it a target crown and then new bottom metal that takes 5 or 10-shot steel magazines. - Then it will be done.

The next project will be a .308 exactly like this .223, with a short, heavy barrel and a thumb-hole stock, etc.. I'll have to pick another color combination for the .308.
I'll wind up with a 17HMR, a 223, and a 308 that all share the same general feel, good accuracy and handling qualities. Stubby bull barrels are pointable and swing smoothly, but are still capable of fine accuracy. With the thumb-hole stock, this is the design that I seem to do the best with for offhand shooting. - And most importantly I guess, the design is really good at the range too.