Hi Mike,
First welcome to the forum.
The M77 Hawkeye barrel is supposed to contact the stock only at the fore-end tip. You can see the pressure 'hump' on the stock with the barrel removed. That said, each barrel behaves differently; has it's own likes and dislikes. Here's a trick on figuring out what your's likes.
1. Shoot a 5-round group, making sure the diagonal bedding screw is good and tight (Ruger torques them to about 90 inch-pounds).
2. Add a shim (made from a margarine tub lid) under the forward part of the receiver, just behind the diagonal screw. And another shim around the rear triggerguard screw. Then shoot another 5-round group and compare to the original.
3. Remove the 2 shims from step 2. Add a shim under the barrel over the pressure 'hump.' Shoot another 5-shot group and compare to the 2 previous groups.
This trick should give you an indication if your rifle likes to be free-floated, tip pressure increased, or just left alone.
If it was me, I would first sand a bit off the barrel channel to where it only made contact at the tip. Then try the trick above.
Hope this helps,
Ted
