Savages from 'back when' and Savages now are different animals - most of the machining is done in two trips thru CNC machining centers, instead of 28 stations (and setups) with manual machines.
The Target Action based rifles tend to shoot really well. Most are single shot, such as the 12 F/TR in .308 Win, although you can ind the 12 LRP in calibers like .260 Rem or 6.5 Creedmoor. The 'feel' of these guns is quite a bit different than the older guns. As always, they are still factory rifles - there is still a chance of a bad chamber or crown, etc. but usually Savage does pretty good at making things right if you call their customer service folks.
I may be a little biased, seeing as I shoot on a factory-sponsored team for Savage Arms... but we shoot the 12 F/TR and 12 Palma rifles in .308 Win out to 1000yds on a regular basis, and out to 1200 when possible. I wouldn't be doing that if the guns didn't work, and trust me, nobody laughs any more when we show up with factory rifles