I have an old Rem 700 PSS with an HS stock with a bedding block. It's a good enough stock, but the bedding blocks aren't necessarily square with the world. Mine needed to be bedded, and that put the barrel in contact with the barrel channel (the block was low in the rear, so when it was levelled...). The hard skin on those stocks is very thin and in opening the barrel channel I got through the skin and had to coat the exposed open cell foam with epoxy.
It was more a pain in the tail than anything, but it can happen.
So yes they can be a good stock for a varmint rifle.