I like both, and shoot both.
700 would be better, but Savage actions are a better "bang for the buck" IMO.
You can do a lot on a budget with a Savage action and still have a very good shooter. The main reason is that you can do a lot with out a gunsmith or a lot of tools even.
A 700 action would be better overall, but cost much more in the long run.
This argument has been made over and over to infinity.