My wife, Patty, has a Rem 270 Mountain Rifle and she has whacked 'chucks out to 400 yards with it. I have a Handi 7-08, and a Ruger .308. The .308 does just about everything the other two can do.....just a little more drop. I haven't worked much with my Handi .30-06, but I believe with a lighter pill, it'll do pretty well against the .270. With the rifles I own, If I were you, I'd sell the .270 brass and by a Handi .45-70....now there's a rifle.
Check the scope on the Wal-Mart .270. I believe it is an unmarked generic. I haven't heard any satisfaction reports on them. You may be better off buying the rifle without the scope somewhere else and putting the savings into a quality scope.
Pete