Sturm, Ruger & Co. introduced two new M77 “extreme hunting rifles” using cartridges developed by Hornady. These rifles are offered in .300 RCM and .338 RCM. RCM stands 
for Ruger Compact Magnum and were developed by Hornady using the latest in smokeless powders.
The .300 RCM in a 20″ barrel matches the ballistics of the .300 Winchester Magnum from a 24.5″ barrel, while the .338 RCM with a 20″ barrel matches the ballistics of the .338 Winchester Magnum from a 24.5″ barrel, said Stephen L. Sanetti, the president of Ruger.
In addition to the shorter length, the new RCM rifles also feature a short action and come standard with a recoil pad, LC6 trigger, steel floorplate, and more. Each rifle can be had with a blued barrel and American walnut stock, or a stainless barrel and a black synthetic stock. Each M77 retails for $995.
From the Ruger website:
M77® Ruger Compact Magnums
The Ruger Compact Magnum cartridges, developed in conjunction with Hornady Manufacturing Co., are extreme cartridges for extreme hunting. Based on the beltless .375 Ruger, the .300 and .338 RCMs are engineered to offer .300 and .338 Win. Magnum performance in a more compact package. With their short actions and 20” barrels, the M77 Ruger Compact Magnums are today’s “mountain rifles and brush guns.”
The new cartridges are chambered in the compact action Ruger M77 Hawkeye rifles with features that include the smooth and crisp Ruger LC6™ trigger for improved out-of-the-box trigger pull, and a red rubber recoil pad that provides more effective recoil reduction. Other features of the Ruger M77 Hawkeye rifles appreciated by knowledgeable shooters are the Mauser-type controlled feeding and powerful claw extractor, 3-position safety, hammer forged steel barrels and free Ruger patented scope rings. The design of the patented steel floorplate, which bears the distinctive Ruger logo, provides easy unloading and eliminates accidental “dumping” of ammunition.
Two compact-action models of the Ruger M77 Hawkeye rifles chambered in the new Ruger Compact Magnums are available. The matte blued version features the M77 Hawkeye’s slimmer walnut stock with wrap-around cut checkering on the forearm and more rounded contours on the bottom of the stock and top of the pistol grips. The matte stainless version features a synthetic stock with a new recoil pad.
The new cartridges designed by Hornady Manufacturing provide unmatched ballistic performance in compact rifles, less felt recoil, longer barrel life, and superior performance at all temperatures. The .300 RCM is available in 150, 165 and 180-grain SST offerings. Each .300 RCM load exceeds comparative .300 Win. Magnum loads from a 20″ barrel. Muzzle velocities for the .300 RCM are 3,170 fps, 3,030 fps, and 2,900 fps, respectively – from a 20″ factory barrel. The .338 RCM is available in the newly developed 200 gr SST, and 225 gr SST offerings. Velocities for the .338 RCMs are 2,850 fps and 2,710 fps respectively, easily out performing the .338 Win. Magnum at equal barrel length.
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I’ve got a Ruger Hawkeye in 338 RCM and I really like it ….a very comfortable rifle to shoot with a smooth trigger.
Groups are very impressive so far.
All in all its a nice durable package.
I just purchased a new 338RCM, just finished lining it in today, groups 225 sst @ 200 yds. No more recoil than a 300 ultra mag. real pleased with Andy @ East County Guns Elma Wa. For recomending this compact rifle, I think this a great rifle for hunting elk,bear and other large game in thick brushy conditions,short and light.
‘bought a .338 RCM when it first came out for crawling around through PA laurel for bear. Restocked it with a Hogue overmolded full bed block stock and free floated the bbl. Using a 2.5 x 8 leup VXIII, 200 and 225gr factory ammo shoots under an inch @ 100 yds. Recoil is on the mild side, something on the order of a lite wt ’06. Using it for everything from ground hogs to elk. Nothing has complained. Will be loading-up the newly introduced Barnes tsx 185′s. If they shoot as well as the factory loads, I’m done.