I've got a 700 that's all tricked out with a trued action, Krieger barrel, McMillan stock etc... It's a very good rifle.
It was also a pretty good rifle as built by Remington. It started life as a 700 VS in .308 Win, the model with the HS Precision stock and the varmint weight barrel. In that configuration it would routinely shoot sub 3/4" groups at 100 yards with decent handloads or Federal factory match ammo. I used it in some "tactical" matches and did fairly well with it, even at 600 yards. Also shot it in some NRA prone matches to 600 yards and it was good enough to get me real interested in competition shooting.
Now of course, it shoots better.
I have done, and still do, most of my hunting with factory built Rem 700's in various cartridges from 6mm Rem to .300 Rem Ultra Mag. They've ALL shot well. About the only things I've needed to do with a Rem 700 to get it to shoot well are; tuning the trigger and free-floating the barrel. Often I'll only mess with the trigger. It's a simple job, and if you don't want to mess with it, it's easy for a gunsmith to slick 'em up or to replace them with something like a Jewell.
A favorite hunting rifle of mine is this .25-06 700 CDL. Great lightweight sporter. Accuracy? My hunting loads hold 3" or less at 300 yards, from prone with only a sling for support. That's been good enough for rockchucks, coyotes and a couple of mule deer.
Over the years I've had various 700's, including 7mm Rem mag, .300 Win mag, .30-06 and even a .300 Rem Ultra Mag. All of them were capable of sub MOA groups at 100 - 300 yards with hunting ammo - just the way Remington built 'em. Well, I did mess with the triggers on all or most of them.
The oldest 700 I've got hanging around was given to me in 1974, a little 6mm Remington. Youngest son hunts with it these days, and it still puts 3 shots into about 2.5" - 3" at 300 yards for him, from prone with a bipod. I think that's pretty decent for a little old factory built sporter weight rifle with hunting ammo and a 16 year old shooter. Again, the rockchucks & mule deer have found out it's plenty accurate for them. I think the best load I've run through it at 100 yards measured 5/8" but usually it groups around 3/4" at 100 yards.
Almost forgot - Dad has a varmint model 700 in .22-250 that puts five shots into one ragged hole at 100 yards from the bench. Well, at least it does now that we've found The Load. Other loads with longer, heavier bullets it sorta scattered around... His rifle is close to factory, just sitting in an aftermarket laminated stock and with a trigger job.
700's are real easy to setup the way you want 'em - all sorts of aftermarket custom goodies that go on easy. Some help, some may not.
Hope this helps. Regards, Guy