I have two of them, but neither is stock. One I shot about 40 times and got about 1.5" groups at 100 yards. Really did not work very hard at getting good groups. The only thing salvaged off of it is the action, new barrel, new stock, new trigger, new recoil lug, new bolt handle. It shoots great, but I do have a few bucks in it. The second one, I did not even shoot. It got the same treatment, but I changed the bolt head to a 308 size and put a 22 BR barrel on it. They both shoot very well, but they are both heavy guns.
If you want to make a custom gun, the 200 makes a good base, you can go as wild or as mild as you like. If you want to have it as light as possible, then leave the stock on and the factory barrel. People have gotten good results with this combination. Most people find the trigger a little too heavy, with no adjustment. I think you will want to at least do some trigger work on it. You can get a good after market trigger for around $100 or some have done trigger work on the stock one. Do some honing, change a spring.... Read back through this section, there are lots of threads about the Stevens 200 and what people have done with them. Pay particular attention to the trigger mods, if you want to retain the stock trigger.
The Stevens 200 out of the box is not a Remington 700 ( which i have a couple of) out of the box. This is mostly due to the trigger. The Remington 700 stock trigger is miles ahead of the Stevens 200 trigger (non adjustable). With a little time and or money the Stevens 200 can be made to shoot very well.
Here are some 5 shot groups shot @ 100 yards with a Stevens 200 and a $100 .223 after market barrel, $80 trigger and a $100 Boyd's stock and a $100 scope. Bought the gun for $280. I put on a stainless recoil lug, bolt handle and trigger guard too - $720 total as you see it below.
Good Luck and Good Shooting