Dave, sorry i've taken so long to get back on this one.
The Savage is real good in a lot of respects, and not so good in others. The receiver itself is as good as any and is very well machined for a mass produced item. The same can be said of the bolt. I read on 6 BR.com recently that an action of one of the Guns of the Week guys, was sent away to a smith to time the pin and bolt opening/cocking piece. The advise there was wrong as the Savage both new and old has a threaded pin that can set the sear roller and cocking piece timing in a few minutes. I have done my FTR and it is as good, if not better than on an action you pay a shitload for.
The downside of the Savage 12 target actions is that although the trigger is way better than those of past generations, it is designed in such a manner that does not allow a conventional gluein like you and i have grown accustomed to using. They have to be pillar bedded or something similar. I could if i really wanted to glue one in, but the stock would have to have major sections machined or carved out to enable trigger removal. The trigger itself is very good for a factory offering, but in no way is it a patch on something like a Jewell or Shilen etc. If these actions that Savage are making had the 700 style pin removable triggers, and the likes of Jewells could be fitted, these actions would be selling by the millions. I hope one of their techs is reading this and takes note as it would transform the company overnight way beyond what it has already achieved with its current offerings. The floating bolt head design that Savage and Omark have used for eons, has been recently tested in a host of custom actions with Stiller being the most recent, and all have said that there is a decided accuracy advantage in such a configuration. The cycling, cocking, firing and extraction of the Savage is not like any factory action and not like most good custom actions, but somewhere in between both. As far as accuracy goes, you and i both know this comes down to the whole package, but my FTR in 308 is very competitive amongst Barnards and other TR FClass rifles costing 5 to 7K.
I have had a close look at converting one of these to 700 style sears and triggers, but doubt the effort would be woth it. I just have to get my head around a 4 to 6 ounce trigger in a conventionally pillar bedded rifle. With the left port and right bolt option available, this action could be used to run a very good competitive LR rifle. Maybe even a point blanker if you get one of the good aftermarket triggers available.
At $759 this action with trigger and trigger bow is a very good unit and anyone who turns their nose up at one in favour of a Diamondback, could get that nose out of joint.
Tony Z.