brian, the savage long action is used for both magnum and standard rounds, both 06 and magnums are about the same size as far as length go.but the magazine is different. the bolt face can be changed to magnum, .473 boltface, such as .308, .270, .243 and 30-06 or even a small boltface like .223. one of the 6.5x284 that i made started as a .223 stevens, changed the boltface, removed the bolt spacer, the part that wouldn't let the action open as far as a .308, changed the trigger, recoil lug, screwed on a 6.5x284 brux target 30" barrel, put it in a choate ultimate varminter stock. 6.5x20 leupold scope. and again, i am shooting this as a single shot, so i am not using the magazine.
a couple of sites to check out are "savage shooters" and google "fred moreo". hope this answers some of your questions, ce61