I have an old Savage in .308 and let me tell you - it is a hell of a rifle and so accurate, it boggles the mind!
I agree with the others about the scope. Normally Savage's that are a "package deal" come with a cheap scope (mine did). Take the scope off and sell it on Ebay or Craigslist or something. Get a good quality scope for it and get it mounted and bore sighted.
Also, for some reason or another, Savages seem to have a preference for Federal Premium ammo. I've heard this many times from numerous people. It's just the way it is, I guess... I tried different ammo in my Savage .308 and you know what? They were right. My Savage loves Federal ammo, and shot sub MOA groups at 100 yards. Heck, 3 bullet holes touched like the 3-of-clubs on a playing card!