I just picked this Savage 720 today. I believe it to be one of those bought by the government in WWII to use to train new recruits in aerial gunnery. The barrel is 26" long and appears to have a open choke.
There is some freckling in the bluing, but the wood is very nice with some nice grain visible in the right light.
I tried to find out some more info on these but either there isn't much out there or my google-fu isn't very good. I have posted it on another forum hoping to see if there is someone out there has more information on it. For instance, what does the four asterisks on the barrel stand for?
Even not knowing much about it I figure it is worth the $250 I paid for it.