I've got a Model 12FV in .223, and a Model 12BVSS in 22-250. The .22-250 did several 1/2" groups the first day at the range with FACTORY ammo. I've gotten some 1/3" groups with hand loads, which I'm still playing with. I put a Weaver Grand Slam 6x20x40 scope on top, and it is a joy to shoot.
The .223 doesn't seem to be quite as accurate, but I haven't shot it that much (had to send it back to Savage to put the trigger back together after an unfortunate attempt to intall the Sharp Shooter trigger hehehe). I'm headed out to shoot it tomorrow, at a 100 yard range. I've just gotten the SS trigger installed, so that might make a difference too.
You *can* make some small adjustments to the factory trigger, but it's kinda luck of the draw as to the final results. It made a big difference to the .22-250, but didn't do much at all to the .223, which is why I put the SS trigger in that one.
Depending on what you want to do with the rifle, I'd suggest the 12BVSS. It's a little better balanced, as the ones with the synthetic stocks tend to be a little front end heavy, and that will be even worse if you put a bipod on it.
BTW, the .223 was $379 at Galyans, and the the .22-250 was $499 there. Also, FWIW, I've destroyed a couple of Tasco scopes on one of my FALs, so I don't know if I'd keep that on there if you get it in .308.
For the money, I don't know how you can do better than the Savage bolt guns, even considering the nasty triggers, which is nothing that you can't cure at Brownell's for $77 plus shipping.