I have a Ruger 10/22 and really enjoy it (especially because of the price of ammo). I am interested in getting a semi or bolt action .22L/R and scope it out for some accurate .22L/R target shooting. Price is a fairly large factor, so I want the best bang for the buck .22L/R accuracy. I would prefer something in the $200-300 range. I could go a little higher if it was strongly recommended to do so.

I have been doing a bit of research and it seems the Savage MK-II FV is my best bang for the buck.  Anyone had any negative experiences with it or things to look out for?

I was looking into them for a while spent some time asking and reading at Rimfirecentral.com  never saw any negatives.  Should be GTG.

I've got one with a thumbole stock topped with a Bushnell Sportsman w/  adjustable parrallax and I love it.  It is dangerously accurate with good ammunition.  I don't have the pic at hand, but with high end match ammo I shot a 5 shot group that had three rounds through the same hole at 50 yards.  Added a bipod to the front sling stud (don't worry about this shifting your POI; the barrel is free floated from the factory).

The biggest factors in accuracy will be the shooter, your glass, and your ammo.  When you start trying to do some hardcore tack driving, you'll want a scope with adjustable parrallax, unless you're confident of your cheek weld being the same every single time.  The ammo makes a big difference.  The very best results I've gotten has been with Lapua Midas+, but it's as expensive per shot as 9mm so I don't shoot a lot of it.  On a more regular basis, I shoot SK Standard Plus and Remington Target.  Remington Target is actually decently accurate (not as accurate as the SK, though) and doesn't cost much.  It throws an occasional flier and also has the occasional fail to fire and dud.  It makes good practice ammo.

Very few complaints, but there are a couple.  It has the standard AccuTrigger instead of the match AccuTrigger.  The standard accutrigger goes down to a 2.5 lb pull, the match one goes down 6 or 8 ounces or so.  It doesn't balance well for free hand shooting; it's strictly a bipod / benchrest gun.  Mine also has proven sensitive to moisture; surface rust forms easily on the barrel even in the presence of moisture.  I don't know if this is a common problem or if it's just mine.  It's easy to clean up when it happens though.  A dremel with felt wheel and polishing compound fixes it right up.  In any case I would not take this gun into the wilds for a hunting trip due to its unfriendly balance for free hand shooting and apparent sensitivity to moisture.  If I had the 17 hmr version, I would consider varmint hunting with it, since most varmint hunting can be done from a bipod or rest.

Overall,

Pros:

Accurate with all ammo, extremely accurate with the right ammo.
Smooth action
AccuTrigger
Bang for buck
Very nice stock

Cons:

Heavy
Balance is not conducive to free standing shooting; not saying it can't be done, but I find bull barreled 10/22s easier to shoot accurate free standing
Sensitive to moisture (at least mine is; this may not be the norm)

I highly reccommend the Savage if you want a target gun.  It runs right there with much more expensive guns for accuracy and is very affordable.  I think it's the best thing going for rimfire target guns right now.  I wouldn't trade mine for anything.

I have one, and I love it.