Thanks Cement Man, appreciate the complliment

Bukfevr, I'd like to add that I have never had any issues with muzzle jump w/ my mod. 7 either.
As far as barrel legnth goes, well, that's as much dictated by the type of terrain you will be hunting, as it is personal preference.
My personal preference would be If you are going to be hunting mainly food plots, fields and power lines etc. then I would get a 22-24" bbl.
If it will strictly be a woods rifle for use in treestands and heavy brush then I'd go with a 20" bbl.
And if it were to be used mainly as a woods rifle, and only ocassionally for long shots (>300 yds.) I would still go w/ a 20" bbl.
The velocity difference between a 22" and 20" bbl. is < 200 fps. which, when shooting a whitetail at 4 feet or 400 yds. with a 7/08, won't amount to a hill of beans.
Another rifle you may want to look at is the Tikka line. They have a T-3 Lite Synthetic stock that weighs 6#3oz. w/ a 22 7/8" bbl.. Most are tack drivers and guarenteed to shoot MOA or better right out of the box, arguablly the best factory triggers on the market and they're priced a good bit cheaper than the mod.7 as well. (if you haven't visited there yet you might want to check out the Sako / Tikka forum here, lots of good info).
I just purchased their wood/blue model in 7/08 to use as a med. range rig (>200yds.) for fields n' such so I can keep my mod. 7 set up as a dedicated woods rifle (got it pulling double duty at the moment).
If I had to do it all over again, and I were able to only have one rifle to hunt the VA. Mtns., with a possible 300 yd. shot thrown in here and there, I would opt for a Tikka T-3 Lite and have the bbl. bobbed to 20".
Just my .02.
Best of luck with what ever you choose!
YB