Can't speak specially about the Model Four from personal experience. I have three 742's bought originally new in the early '70s and inherited by me in the late 70s. .30-'06, .308 and .280, along with an even older 740 in '06. All have been hunted regularly over the years, none have ever missfired or jammed and all have had acceptable hunting accuracy of under 2 MOA. The .308 close to 1 MOA with match ammo.
Only the early 740 is "finicky." Sometimes the bolt does not completely rotate into battery when charging the first round. A slight push on the bolt handle finishes it. But, that rifle was hunted with very extensively for decades, has a little wear, and is now about 60 years old. They have a rotary bolt and there is some wear on the lugs.
The Model Four was a higher grade 7400 with a nicer stock, but otherwise mechanically identical, as far as I can tell. The 7400 was an attempt to produce the 742 at a lower production cost, with a supposedly smoother bolt lockup, larger bolt body and a different extractor.
These are hunting rifles and not sustained high rate of fire tactical weapons. They were designed to provide a rapid follow up shot or two in brush or at running big game at moderate distances. For that purpose they perform well. The trick is to keep the chamber clean. Remington provided an offset handle chamber brush with each. Keep the chamber walls and the rotary bolt lugs clean and these rifles run very well. My only quibble is the shotgun type non-adjustable "fire control group." While not as heavy as a tactical milspec trigger, it does not enable the rifle to achieve optimal bench accuracy except with great attention to technique. Ok in the field, but could have been better done. Timmney makes a nice upgrade kit for about $90 that will greatly improve the stock trigger pull weight and feel.
This is one of them. My .308 742. It is topped with its original Redfield 3-9x40 scope in Redfield rings and one piece base, with Lawrence #4 sling in Whelen configuration.The scope is a little dim by today's standards, but the combo is still effective. I think I will shoot some 100 yard groups with it this weekend and see how it does.