Ruger #1s are real variable in accuracy. Some seem to do pretty well, others aren't fit to be fence posts. I've had 4-5 I guess.
The .25-06 was pretty bad. Standard #1B blued. At the end of a few months of intense load development work, I gave up on it. With considerable struggle I got it down around 2.5 MOA with varmint bullets, never could reliably go under 4 MOA or so with hunting bullets. In other words, it was competitive with a rusty .30-30 that hadn't been cleaned in a couple hundred years.
I suspect the heavy barrelled varminters will do quite a bit better. Had one in .220 Swift that I got down around MOA with a lot of fussing and it would have done better but there was a loose spot in the barrel, a spot where you could feel a bore brush or patch suddenly free-fall about 2 inches.
I had an early #1 V in .300 Winny Mag which was quite interesting 'cause it strung horribly (but repeatably) as the barrel heated. Keep it hot, too hot to touch, and it'd shoot under half MOA. Let it cool off, and it'd hit 8" lower.
My latest #1 was a stainless .375. It shot pretty well. Did the set screw under the forend hanger for barrel tension. With 260 grain ballistic tips it was a reliable .75 MOA rifle but with that #1 stock shape it was a brutal b*tch to shoot. One afternoon I let the toe of the stock get down in the crack by my collar bone. When the shot went off I felt something crunch ... not bone, tendon. I couldn't shoulder a rifle for a couple weeks without going into wiggle mode.
Anyways, #1s are interesting and fun ... and frustrating. IMHO the #1 H and #1 V are noticibly more accurate. Think that stiffer barrel helps a lot with all the twisting and squirming that happens when that forend barrel hanger mainspring mount etc unloads when the sear breaks.
I wouldn't buy one relying on it as a long range rifle but I wouldn't absolutely count it out, you might stumble across a good one. I wouldn't probably buy one until I had another good, reliable rifle in the safe in case the #1 turned out to be a problem.