I have done this on many occasions. This Is why i prefer a savage over remington or winchester or browning, etc...
It is an easy process, some people will tell you to get the go and no-go gauges for your new caliber to set the headspace, but in all reality you can use a resized piece of brass from you dies. this will ensure the gun is headspaced for your dies.
All you will need is the following:
Barrel nut wrench
barrel vise
new barrel
If in same family of cartridges you won't have to replace bolt head or magazine box but if going from a .308 to .17 remington like i did, I had to replace the bolt face (5 minutes) and magazine box (5 minutes).
All you have to do is take the old barrel off, and put the new barrel on and then headspace it, and your done.
Some prefer to just do away with the savage barrel nut, some prefer to leave it on. I left mine on, but just recently purchased one from another guy that had been rebarreled and it's off.
There is a company called Sharpshooter supply up in ohio, and they have everything to help make this change as smooth as possible. He used Douglas Barrels and I have had excellent results with them. Fred is a super guy. Another place that has a few parts is savageparts.com or something similar. You can probably do a search for them.
If you go over to Varminthunters.com and go to the sponsers page you will find Sharpshooter supply's number there. Pac-nor will also build you a prefit, prechambered barrel for the savages...
GOOD LUCK AND HAVE FUN WITH IT.............. I HAVE
Zack