My only two ARs are both .277 Wolverines (a 20" multi-purpose gun and a 8.5" in progress). I have been toying with the idea of having a 28" bull barrel built around the .277 Wolverine and reamed with a particularly long throat to accept very long-loaded bullets (2.5+ COAL).
I have played with my AR10s in a "straight-pull bolt-action" functionality, where I either barely opened the gas block enough to just break the bolt loose, or used pistol powders which largely have the same effect. Plus, I have gone to side-charging uppers, which make charging while prone pretty easy. So, I know I could make it work how I want, and would see some additional benefits in sticking with the AR platform like familiarity with the platform (both in operation and assembly / modification) and compatability with my existing lowers (and their well-fitting stocks and nice triggers).
I am considering a Savage build as well, but I believe the Savage .223 magazines are still limited to something like 2.44 COAL. Thus, at 2.5"+ COALs, the only real benefit the Savage offers is the leverage to consistently pull fired rounds out of the chamber. Conversely, even with the side charger, doing this with no gas on the AR might be a little tough, and could require a slight amount of gas to break over the bolt for manual cycling (Id prefer to manually eject, both to manage my brass more easily and maximize velocities).
As far as ballistics go, in this configuration I would expext a 140 SST (.495 G1 BC) could be pushed to about 2600fps or so. This gives enough velocity keep to 1800fps just past 500 yards (expansion velocity), and 1200fps at 1000 yards.
Obviously, I know there are objectively better cartridges for this kind of undertaking, even in the AR15 platform (like 6.5Gr, .224 Valk, etc). However, I wont be competing or anything, and my 20" is more than capable of taking game at any distance Id actually shoot. So, it would really just be a fun build that would still allow me to share the parts, brass, loading dies, and powder I already have--I would just need to buy a few boxes of new projectiles to get sharted. I just sold about 70lbs of gun powder and something like 15,000 projectiles in various calibers I no longer shoot (and my 700lb milling machine, to name a few other barely-used garage toys), and I would like to maintain my streamlined supply. Moving every couple of years really emphasizes the minimalist in you...
Am I missing anything?