Check the mags on most any of the rifles under $700 and they won't look much different, except a lot of them will be polymer. And that isn't necessarily bad. They work and do the job. I do like the 5 round mag better because the longer 10 rounder gets in the way when I am shooting off hand. If I am hunting with it, I keep the 10 round in my pocket as a reserve.
With Fed AutoMatch and CCI Blazer, I have been able to get nickle sized groups at 50 yd.s. I am still toying with bedding the stock (MKIIg). I think that will tighten it up some more. I may even send it to Savageguns and let him do the accurizing. He offers a good deal, recrowns the barrel, beds it, etc. Torque the action screws to around 20 +/_ in. lb.s and also invest in the heavier gage base plate around the mag on the under side of the stock. A great improvement over the thin tinny base plate offered by Savage.