If you want to pull the rifle out of the box and not have to worry about adjusting the trigger, free floating the barrel, and awesome accuracy, get the Tikka. Rugers have been a hit and miss type deal for alot of guys. I personally have owned 2 Ruger M77MKIIs, and neither was less than a 1.5MOA gun. On the other hand, I have a buddy that bought a used M77 with the tang safety in 243 and it will make a ragged hole at 100 yards with any ammo you put in it, and another buddy owned a M77KII in 25-06 that would put 3 under 1" all day long.

I prefer the M77 action to the Tikka, as I love the way the Ruger locks up. Both actions are smooth as glass, and I really don't think you could make a bad decision between either gun. Another nice thing, both come with scope rings.