Fine rifle. Besides the ammo, accuracy will depend on the scope and the stock bedding. Don't file the extractor any, it might be old enough to be bronze beryllium, highly toxic.
The Savage 110 had one of the longest actions on the market at a time when short actions and short cartridges (.223, .308) were all the new rage, they were snubbed and overlooked by gun writers for years. Eventually they came out with a short action version.