Yeah, something's not right at all. My guess is firing pin binding up (manufacturing debris in the bolt body, burr on pin, bolt one thread short of fully screwed together, defective firing pin) or the rifle is WAY out of spec on headspace.
I think I mentioned it on this thread or somewhere here that one of our mechanics just got a 700 with the 16" threaded bull-barrel and the barrel and receiver were terribly out of whack at the recoil lug, like the shoulder was off, receiver face not square, or the tenon got bent somehow. That makes me suspect the operation that puts the barrel and action together on these is pretty sloppy and a headspace investigation might be in order.