for the barrel i do the same as the OP. clean it, dry it, one lightly oiled patch before putting up.
now on the action, i have two methods.
first option is to completly dissasemble the rifle except for removing the barrel. then clean and oil each metal part. this is done between shooting sessons (usually Sunday evening while watching sports) or when the rifle even burps wrong.
second is to rinse the action in a light weight oil unitl it runs clear. then wipe down everything i can get to. this is usually done after each day's outing or at the range when i get past a brick of ammo through it in a day. I tend to shoot mostly on weekends so this tends to be my Saturday routine. I have shot two bricks in a day when someone else was loading the mags for me.
gotta luv enthusiastic kids!