Great story... I love Savage rifles too! I have an old 1998 Savage 110 but chambered in .308 and has a nice Bushnell 3-9x40 scope on it. I bought it a few seasons ago when I was rifle shopping. A Remington .270 was really getting my attention, but, when I picked up the old Savage 110, it just sort of "spoke" to me. It just fit perfect and said "Buy me, take me home" and that was that.
The first order of business was to get rid of the cheap POS Simmons "no-name" 3-9x32 scope and rings. I picked out some very nice steel Weaver rings and a nice Bushnell Trophy 3-9x40 scope, and got them mounted and bore sighted.
I contacted Savage too and asked about my rifle... I gave them the serial number
(F7286xx) and they were so awesome, they gave me the whole rundown on the rifle in detail:
F72 --- translates to a manufacture date of September 1998.
Model 110 --- was a very very common model of all their bolt action rifles. Savage was in Chapter 11 bankruptcy back then, and had to do whatever means necessary to save money and save themselves. They used the same body style for all their bolt action rifles regardless of caliber. For short actions (.308, .243, etc...) they installed a block or something down in back of the lower chamber, behind the internal magazine box, changed the bolt, and made other slight modifications. So, in a nutshell, back in the 90's when Savage was having financial problems, you could see a Model 110 chambered in all the flavors of bolt action calibers.
Here she is... Not too bad for a 13 year old rifle. I nailed a nice buck last season and dropped him in his tracks at about 100-120 yards, while hunting up in upstate NY on my sister & brother-in-law's farm.
Also, like the original poster mentioned about Federal Premium ammo, mine loves Federal ammo too. There is just something weird about Savage rifles and Federal ammo. The two seem to be made for each other.