Here's my objective two cents. DISCLAIMER: I own 4 centerfire Savages, 1 centerfire 700, briefly owned a 700 Tactical 16.5" 308 last summer.
The 700 bolt "feels" better; the bolt lift requires less effort and the bolt throw is smoother. The 700 also ejects brass like a boss. The 700 BDL is mag length limited to something like 2.82", if I recall correctly. 700 308s tend to have very long throats. The aftermarket for 700s is better, specifically in terms of trigger selection and aftermarket stocks/chassis/DBM systems.
A Savage action has a heavier, clunkier bolt throw due to the geometry of the cocking mechanism. The oversized bolt handle of the Hog Hunter makes the effort easier, and it gets better after you run the bolt a thousand (yeah, a thousand) or so times. Ejection often leaves something to be desired, somewhere between slightly weak and piss poor. SharpShooterSupply makes a kit for $8 that gets it up to stock Remington level. The centerfeed Savage magazine (be it in blind mag form like the Hog Hunter, or as a DBM) allows up to 3.00" COAL. Savage 308s tend to have shorter throats, with 175s hitting the lands pretty much at factory OALs.
The Savage action allows you to swap bolt heads and barrels in your own home, with minimal tooling, fairly quickly. This is an intangible of the Savage action, and IMO the primary reason to run one vs. a Remington - you can go from a 223 to a 338 Edge in a matter of minutes should you so choose. You can also easily swap bolt handles yourself with a Savage.
Both actions are capable of very good accuracy. A 700 build will have better residual value at resale than a Savage build of identical specifications.
700s are probably a bit more reliable for field work due to better extraction and ejection - does not necessarily mean Savages are not reliable, however.
A Rem-Age conversion (700 action with a Savage-type barrel nut system) is the very best of both worlds, IMO.
I personally choose Savage to save money, both upfront and in smith fees when I decide I want to do something different. I was able to build a 20" threaded 260 in a McMillan A5 stock with CDI DBM using a 10FP action for about the same money as a new 700 5R in 308. I would surmise a good smith could provide a trued/chambered 700 barreled action with greater mechanical accuracy capability than a Savage barreled action with a prefit barrel, but I'd also say Savages are very accurate and few people could probably shoot the difference between the two.
