I have never owned a #1 but have fired several and had a number of customers who bought them. The major problem seems to be customer expectations. Most buyers seem to expect the rifle to drive tacks simply because it is a single shot. IMHO, it is a beautiful rifle, very classy looking, and a good example of upscale hunting rifles. But note that "hunting rifles". It has better than adequate hunting rifle accuracy, but no better than (or maybe not as good as) a Remington 700 or any other decent quality hunting rifle, including Ruger's own Model 77.
If the desire is to make a #1 into a pure target rifle, money will need to be spent, probably beginning with a new, heavy barrel, then going with a different foreend and stock. Then, if things go right, you will have a real target gun. Of course, it won't be a light, handy hunting rifle any more - it won't be a Number 1.