I have Ruger #1 and have defended it many times as a long range gun. It is not for everyone and I would not ever build another as a long range gun but if you treat it right it will deliver extreme accuracy at extreme ranges.
This particular gun was bought new in about 1978 (back then they had an adjustable trigger and this gun has a delightful trigger) and rebarreled with a Shilen heavy sporter 26 inch barrel in 7mmWby. Gun delivered 0.6-0.8 MOA at every hundred yards out to 1200 yds with 5 shot groups repeatedly. During final dial in it delivered two consecutve five shot eight inch groups at 1200yds. I am not a benchrest shooter and these were just bullets loaded with regular RCBS dies with no brass prep. The way the groups were shot was with a 12+ minute cool down between each and every shot so the barrel never got even slightly warm. After one shot I threw the brass in a can that was never fired for anything other than practice because most of them would not hold a primer for a second shot.
All of the above said, I have made some spectacular misses with the gun because it will not shoot off of a hard surface. The foreend must be muffled in something soft and giving like a sandbag or bath towel. Yes, I have hunted with a bath towel and I made the greatest shot of my life off of a rolled up bath towel with that gun. All of that was long ago. After putting the gun away for 25 years I got it back out this year and tried my best to make a 1000yd shot but I could not find any cooperative deer.
Here are some pictures of the gun. It has a rear stock that I rasped out and then had my prototype put on a duplicating machine.
P.S. There are a lot of people that say that groups size opens up with range and my opinion is that ‘their” group size opens up with range.