It was only the stock making and assembly that was moved to Portugal, into the same plant where Browning has been assembling guns since 1974.
I have a friend that has a small gun shop... just a few months ago he started selling kimber and leupold. Before he even sold one of either, he was dropped as a dealer by his supplier. They wanted a certain amount that he had to buy at once, and he couldn't do it... so they wouldn't give him any. Sucks, because I was going to buy one :/
Browning has been doing that to the dealers for many years now that they have to order a wide range of Browning product such as clothing, boots knives etc. etc. and not just guns. It has been a major compliant of many smaller shops is that they are stuck with all kind of expensive inventory they can't sell.
To me the Model 70 just looks like how a rifle should look.