One of the biggest problems with the Remington 740 series was the bolt that holds the forestock on. It had a single continuous thread, and could be tightened up too much, resulting in inconsistent accuracy.
This was corrected in the 742 series, where the bolt had two different threads, and put a more consistent pressure on the forestock.
Williams made what they called an "accuracy block" for the 740, that was inserted into the forestock and helped give consistent pressure.
0ne big problem was reloads, made by people who used standard production dies to load their ammo. RCBS makes a small base die set in standard calibres just for reloading semi-automatic rifles. It is worth the few extra dollars if you use these rifles. Also, some people tightened down the seating die to crimp the bullets in place. If you set the seating die down too far, it will bulge the shoulder of the case, making it larger and the cartridge will not chamber.
Also, the 740 / 742 / 7400 series operates on gas pressure. You have to use appropriate powders, bullet weights, and loads to generate enough gas to operate the system, but not too much to cause damage from overpressures.
Keep it clean, lubricate it LIGHTLY, use good ammo, and it should work great for a hunting rifle. These rifles are not target rifles. If it shoots 2 inches at 100 yards, that relates to 4 inches at 200, and 6 inches at 300. The vital area on a Deer is 12 inches in diameter, so if you do your part, your rifle will do it's part.