My recommendation would be to not free float. I did it and ended up ruining the stock. You have to remove the two support pillars and a lot of material/support along the barrel channel. It ends up making the forend pretty flimsy with no noticable improvement in accuracy.
If you decide to do it, glass bed the action first, then go wild with the Dremel.
Honestly though, the vanguard has an MOA guarantee. Torque to spec, find the right ammo and the gun will outshoot you. My 7mag has always punched below .75 MOA. I don't know what I was trying to gain with my ill fated experiment in free floating.