The later improved models (742 and 7400) have corrected some of the shortcomings of the 740, but a 740 in good condition will be OK. I have an early 740 in .308 and I have fired mine quite a bit without any issues. Very dependable, never jams. Only criticism is do not expect any one hole groups, 2" to 3" at 100 yards will be more like it, so it's not a long-range varmint gun. But the 740's grouping performance will be adequate for most larger game hunting use out to 200 yards. I also have a 7400 in .270 Win that groups like a good bolt action rifle (1"-1-1/2"). I have three different .270 rifles, including the 7400, and all of them group very well with most any load. It's difficult to beat a .270 rifle in any aspect of performance, one of a very small number of all-time excellent rifle cartridges even though a bit long in the tooth.
A further comment on the 740's grouping. There is (or was) a grouping improvement device called an "accuracy block" on the market from Williams Gunsight that was nothing more than a metal spacer (think of a very thick washer) that fitted into the front of the removable fore end. I made my own out of brass (not difficult to do), but I couldn't detect that it provided much of an improvement in group size. In fact, I once tried firing my 740 from a bench rest with the fore end completely removed, and even that didn't improve grouping performance significantly. I always believed that the cause of the 740's inaccuracy was that the barrel itself wasn't rigid enough, and it should have been heavier. In any event, the grouping performance of my 740 isn't terrible for a hunting gun, unless you are one of those who insists on having a "one MOA" rifle. To me, any rifle which will consistently put all of its shots into a basketball-sized circle (or less) at the maximum hunting target distance expected is plenty good enough for use by any typical deer (or larger game) hunter.
