I have a 788 in .222. They are wonderful guns.
Funny, that when they came out they were considered kinda junky. They originally cost under $100. People didn't exactly snap them up. The stamped trigger guard looked junky.
There were originally made in .222, .243, and 308; as I recall.
Then they made them in 22-250; which was the wiz bang cartridge at the time. The 6mm came along about then to I think.
Finally they shortened the barrel and made it in .44 mag and 30/30.
Then word caught on that the darned things were extremely accurate. They began to compete with the Model 700's. When they stopped making them the demand for them was beginning to grow.
They are truely wonderful rifles. The box magazine is very convenient and easy to use. The action is extremely stiff and therefore accurage. The triggers are always fantastic, right off the shelf. The stock is well designed.
I bought mine at Big Five for $150 when the gun had been out of production for five years. I think one in nice shape is going for $500, don't know for sure though.
If you see one, buy it!