I really like the #1's. They are sort of hit and miss on out of the box accuracy, not really any different than the bolt guns. If your not comfortable working on the stocks and mounts or willing to get a smith to do it I would hesitate a little. I like the fact you can get a 5" longer barrel with the same overall length as a bolt gun. I have a 300 RUM that shoots under .5 and it's my favorite packing gun. If your looking for a 1000 yard gun I would not go the #1 route but 5-6... heck yeah.
I have a ruger #1 that was originally a 7mm rem mag and put the 7stw reamer in it. It shoots around 2-3" groups at 400 yards. Certainly good enough for hunting accuracy. I have about ten #1" in cartridges up to the 338-378 wby and all mine shoot well enough for hunting accuracy after a little work. I have seen many shoot extremely well but they are known for vertical stringing and you have got to work with the tension screw in the fore end and a few other things to straighten it out. The triggers are not good but there are a number of aftermarket triggers for it that work very well.