That is a dandy little rifle, light, handy and should be nicely finished. The short action was new for Model 70s at that time. It dropped a little more weight and would be theoretically stiffer and might be more accurate than the same chambering in a long action.
But, it is not the same as the Featherweight. The carbine has a 20" barrel. The Featherweight has its classic 22" barrel and a Schnabel curve at the front of the stock and a Fleur d'Lis checkering pattern inspired by Jack O'Connor. I don't know the Carbine stock shape, but do know its barrel is shorter by 2" over the Featherweight and 4" over some other variations. The 20" barrel trades off some velocity for a lighter, trimmer package.
I'd love to see a photo. Nice find. My only Model 70 is a custom stocked long action second or mid generation model chambered in 7mm Rem Magnum with a longer 26" barrel to burn the heavier charge of slow burning powder. So my knowledge is limited.