A screw is not for crowning, it's for deburring.

That one looks like it's slightly rounded in the photo.  If it's square to the bore centerline and shoots, then it's okay, a crown does not need to be recessed, although it's a good idea for a gun that might get banged around.  I can't see a problem with the existing crown from the photo, but a close up look is needed.

The question is, "how well does the gun shoot now?"  The gun might be shooting to its potential right now.  Bedding might help, or maybe not if the gun is not accurate at all.

What is the condition of the bore?  If the throat is eroded way out, that might be the source of accuracy issues.

Have you considered having the rifle bedded?

After the first coat of Tru Oil cures, hold the stock in a glancing light to look for hazy regions.  Rub those out until the underlying grain is easily seen and the haze is gone before adding another coat.

Consider cutting the Tru Oil with turpentine before adding the next coat.  At least 50%.

I've stopped fooling with Tru Oil on guns that I plan to use often for hunting or target shooting where they get banged up.  After staining, I use a coat of Minwax Polyurethane or Gun Sav'r sprayed on, then rubbed in.  Let the coat cure, then add the next one, rubbed in.  The stock is finished by the end of the day after three applications.

Your friends will think it's an oil finish.

I would say the rifle is shooting to its potential with that ammunition.  It might be (probably is) more accurate with better bullets.
That rifle was built when 3 to 6 inch groups at 100 yards were accepted as adequate for a hunting rifle.  Still is in some circles that never shoot anything that far.