Searched several years finding reasonably priced No.1's at gun shows, friends, etc. and got one some years ago in '06, wrong caliber for my purposes. Changed over to 22-250 with 7 twist barrel for heavier bullets(80-90gr) set up w/Unertl 16X glass. All this was some 5 years ago and the rifle in 22-250 does indeed work very well at about any distance you care to take it, yes, even 1000yds. Have always had a 71 either Win. or Browning version and just like the caliber for a host of reasons. When I did the barrel change on the No. 1 had the 'smith also do a moderately heavy 24" barrel in 348, switch barrel so to speak(it's not a big job to switch one out if you have the correct extractor.) Set it up with Ruger rib for scope attachment plus NECG barrel band front sight, factory flip rear on rib just to kind of "top it out." Use the Ruger rings and Leupold Ultra Light 2.5x w/ German Post reticle in it. Kept putting it off to switch them out for enjoyed the 22-250 set up so much, but finally decided to switch out last week. Purchased 200 of those new to me Hornady Flex Tip 200gr bullets and mild load of IMR 4064 and last couple days been sending rounds down range in both the Ruger No.1 and the Browning 71. Have fair amount of experience with the 71/348 and curious how both would work with this "pointy" bullet. Using NRA HP 100yd. target both rifles with this load will do far better than I expected. The 71 has the standard open sights and overcast with slight drizzle and from the bench/bag able to keep 5 shots in the 10 and X ring. Trigger on the 71 is heavy and the rifle/caliber is not known to be of "match" quality, but certainly good enough for hunting purposes. As for the Ruger No.1 it really shines in that can keep 5 shots easily in the X ring and actually some two or three shots would touch and "that's not bad." I have one of Turnbull's bases that permits using the Burris Fast Fire "dot" sight and believe using that would help quite a bit on the 71's accuracy. Have no hunting experience with this Flex Tip, but this is the best accuracy I have gotten out of the 348 and doubt that my load is the best one out there. Hornady claims it is possible to gain another 200fps with the bullet and next time will take my chronograph and see what the numbers actually are with the two rifles. I am going to have to order some more of these bullets.

Let us know how the 71 works with the flex tips, I for one would be very interested in the load you end up with and the accuracy..

I bought the Ruger No.1 at gun show at reasonable price and it had been abused barrel wise, but action and stocks were good to go.
Replacement barrel was the 22-250 set up for Unertl scope and used for varmints, targets, etc. When doing this discussed with gunsmith/friend about having 348 barrel made in order to have companion rifle so to speak with the 71. Really was not a big job but keep in mind that the extractor slot in breech end needs to be correctly aligned. With witness mark/indicator on breech end removing and re installing different barrel is simplified, line them up while torqueing into receiver. The forearm was opened up a bit to match the contour of either barrel(on the heavy side) and both barrels are pretty much floated so to speak. A take off barrel from another No.1 will not likely work for the receivers vary to prevent that so new fitted barrel(s)required. If you have an action vice, barrel vise, tools, which I do not have, job to switch is about 30 minutes. Disassembly of the action itself is a bit tricky, but after some 2-3 times I can do it without much hassle. The components fit snugly and takes some patience to get them reinstalled. Ruger web site has video on how to do it and helps a great deal on the first effort. Compared to bolt gun barrel/caliber switch is simple and can convert the No.1 to just about any caliber desired. No bottom metal, no feed problems, no ejection problems, no fitting of follower, etc. Unscrew one barrel, screw in the other one, drop in correct extractor, stuff appropriate cartridge in chamber, close breech, and pull the trigger. I get a break on barrel/labor price, but for price far less than new rifle of different caliber you can have multiple guns/calibers. Mentioned in previous postings that I have No.3 converted to 45/70 and thinking of doing another barrel/caliber for it as well, it is the same action basically as the No.1, different lever, just as strong. No.1/3's make for a very versatile platform.