I have an 88, in the rifle form, it's reasonable accurate, not on par with a good bolt gun, but comparable to a BLR.
"Sticks cracking at the wrist", I've never seen one, the 99 Savage sometimes did this, and I think that's where the rumour came from. Even with the 99, it's not as prevalent as the stories would have folks believe.
The action likes to be kept clean, and lightly lubed. It will work fine when fairly dirty, but the trigger pull becomes very inconsistent.
You should have no issues taking game out to 300 yards with the 308 version, assuming you're up for it.