I have personally shot 2 - 783's in 223 factory rifles. Both have been the older hunting versions with the gawd awful bolt knob. the factory mags were surprisingly awesome... but it is blocked to the typical short length. Could be modded for longer (????) Both rifles, with handloads were consistently sub MOA.... I would say averaging in the 5's to 7's at shorter distances.
The factory barrel quality is quite good but I have yet to find one that was a "WOW" like I have with older Savage. An aftermarket match barrel can put things in the 1/4 to 1/3 MOA range with the proper ammo.
bolt function is excellent and when the action breaks in, very smooth. Extraction and ejection seems to be consistently good in these rifles. Trigger is also excellent with most have little creep and adjustable to around 2lbs. Timney should be releasing a new trigger in 2020 if you want to go that route.
Get the new HB or varmint version... you want the new action with the oversized bolt knob. These run even smoother out of the box then the hunting versions I have and others I have tested. I have now played with 3 HB action out of the box and they were really nice. With break in and a little touch up, run superbly. And then you dont have to deal with that horrid flat bolt knob.
Main problem area is the factory firing pin spring... while you are breaking in the action, beat the snot out of them but I don't trust them as I have seen pretty much every one fail with use. If you get any failure to fire after the rifle has run well, it is the firing pin spring... get rid of it. WOLFF Rem 700 SA 24lbs spring is what you want. Cut 1/2" shorter, install and all ignition problems go away. Replace as needed and you will see very consistent groupings.... and yes, you should be replacing your firing pin springs regularly as they will wear out with use, even when cycling the action.
I have played with many Savage in 223 over the years. The older rifles all consistently shot well. Ejection can be problematic (typical of this make unfortunately). Mag feeding should be good but again, can vary depending on the actual rifle. Accuracy can be stellar and I have shot some factory barrels into the 3's and 4's.
with the ongoing changes Savage makes to their actions and especially, firing system, I have moved away to the 783 and other actions. If you are choosing a used Savage that is like 10yrs old, can be fantastic actions. Whatever the generation that created the Stevens 200. Todays manf doesn't make me all that excited.
On a really tight budget, get the 24" version of this rifle. Bed the action, open up the forend ALOT. Load up some 68 to 75gr bullets over VARGET and go have some fun.
If you prefer a nicer stock, this will do it... if you prefer a chassis, start with the rifle above and swap in as funds allow.
The aftermarket is starting to make stuff for the 783... you have stocks, DBM, Chassis, rails, eventually trigger. Then the full range of prefit spec barrels... AND the bolt heads that can be swapped in
XLR just announced their Element chassis will support the 783
If you compare current production Savage vs 783, the 783 wins hands down. If you are going to start with an older Savage action and it doesn't have function issues, then pick which you prefer based on the parts you want to build.
If the goal is to run AICS mags in the action, the 783 wins over EVERY generation of Savage.
Jerry