The principle is sound, and been done before, used to be common on .22lr barrels just without the filler media. Using an outer sleeve to tension a lightweight barrel has in the past been shown to improve accuracy compared to an unaltered barrel, but will still not perform as well as a quality heavy barrel. I recall seeing a rifle from ages ago that had a plate behind the muzzle brake tied to a second bracket at the recoil lug area between the barrel and receiver. The rig looked a lot like a blank firing adapter for the M2 .50 cal mounted on a remy 700, and the shooter was expected to adjust the tension on the rods to tune the barrels harmonics. It actually worked quite well, but obviously never took off. Later on, the same concept was tried with a sleeve but the thin barrel and sealed dead air space did nothing for heat and the throat shot out fairly quick. It was after this that (I think it was volquartsen) picked up the idea for rimfire use where it works very well for light weight accuracy.
The theory seems to work, but its for the accuracy at any cost crowd albeit the price tag was not that high ($349 on the bolt Savage). But then does it add or subtract value in the long haul, only you can make that call....
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