It's harder than inletting a barrel from scratch.
Amen Rich, I can attest to that. On my current plains rifle project I had to open up a 15/16" channel for the 1" barrel. Pain in the butt. And it's only a half stock. Almost too late in the game I made a scraper to do the bottom 3 flats. Make one or buy one from Brownell's, a scraper is the way to go.
Marcus,
Welcome to ALR. For your barrel gaps, as Jerry mentioned, save some of the shavings from your stock, match the grain as best you can, trim them to fit and glue them into the gaps, then refit the barrel. Or... and some here would say this is blasphemous, get some Brownell's Acra-Glas and bed the barrel. This will close your gaps and strengthen the thin wood. Good luck.
-Ron