a Savage target action is a good basic single shot action and in no way, no way, it can challenge a true custom action. I had 2 Savage, FTR and a dual port (bought from ellwood epps), a Barnard Type S and a Kelbly F-class.
What is making a good action is not only about the bolt itself, rigidity is something important. To hold a 30in, heavy target barrel, it need "meet" behing it. The Savage is a really soft action. The secret is in the bedding, and tension on action screw. You need to have a barrel with at least 5in straight taper to be able to bed in front of recoil lug. On the opposite, the tang must absolutely be floating, not even bedded is better. Once you got all that figure out, you need to play with tension on action screws before starting load dev as you may shoot for nothing.... The accutrigger is very nice (personal impression). I've tried a rifle basix and I can confirm what Jerry is saying, very good trigger.
So to resume, yes you can produce an accurate rifle with a Savage action, but you will never perform with the same stability as a custom action. What can make an action make boom while the other is not....more of a mechanical problem than weather to my HUMBLE OPINION