It's a pretty cool action design. I had the chance to snatch up an M704 action a little while back but didn't really have a need for it. I'm don't know where the mixed reviews would come from, since as a rifle primarily designed for hunting there's a different set of expectation in terms of precision and even then I haven't heard anything that would shake confidence in that department.
The rifles that were first built by them and sent out for reviews were shooters and correctly built. The rifles put into production were another story. I have one in 300wm. Sent it back for because it wouldn't shoot at all. They installed a new barrel. Sent it back to me and it still wouldn't shoot. Sent it back again. They had a new gunsmith who looked it over and sent it back to me with a bunch of small modifications. Forgot all that they did but I have it written down somewhere. They sent it back with test target that was 1/2 group maybe better. They say to use barnes vortex ammo in it. I havent shot it since getting it back as my buddy is borrowing the scope I had on it.
If it were me I'd stay away from it unless you get to take it to the range and are happy with it. If not. Save yourself the headache. Wish I had. I may sell mine before I shoot it again. They come with lifetime warranty and the CS was pretty good.
I will say one other thing. I really like there stocks. They should have put more focus on selling those then shitty rifles. I'am also pretty sure the company is owned and operated by different people then the ones who first started it.