Charles,
I have an AR15 with a Olympic Arms 16 in stainless steel barrel in 300-221 fireball and it just simply works! (NOTE: you can only legally use 300 whisper if you have your gun made from JD Jones of SSK industries). The gas port is in the pistol position and I have been able shoot both super sonic and sub sonic with it. It did not originally have an adjustable gas port so my max load super sonic rounds cycled the action a bit too hard and fast. The lower velocity super sonic loads were ok though. I have subsequently installed an adjustable gas port and it works well across the full range of loads... providing I set the gas port correctly for the load I am shooting.
Bottom line, I suggest the AR because there is a lot of different sources and parts available.
I got my upper from Del-Ton, Inc. (
http://www.del-ton.com). I got into setting up an AR upper as a prototype and did not want to spend too much money if I discovered it did not work out. So I went with Del-Ton. The owner, Tony was very helpful and put together a nice upper for me.
Another source is AR15 barrels.com (
http://www.ar15barrels.com/). Randall, the owner, is very knowledgeable and helpful. He can also build you a VERY nice upper using a high quality barrel. I am probably going to have a second upper built for me by Randall.
Good Luck and Have Fun
320pf