I have an older Savage 110 chambered in .308 from late 1997 (according to the serial number and calling Savage direct). Back then Savage was facing Chapter 11, so they did whatever necessary to save money. They made the 110 model, but chambered it in many different calibers. For the short actions, they installed a "block" thingamajig behind the internal magazine, and kept using the same long action body style.
Here's mine complete with a nice Bushnell Trophy 3-9x40 scope.
It's a sweet rifle, deadly accurate, and I love it! Plus, the .308 ammo is readily available anywhere and doesn't cost much.