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What level accuracy do you want? 1 MOA? 1/2 MOA? 2 MOA?
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Yes. This. If you are looking to compete competitvely, $1200 probably won't do it. If you're trying to hit a 4'x4' plate, just about any rifle could do it.
Here's another vote for Savage. You can get accurate to really accurate right off the shelf. I'm a 260 Remington fan, but 308 would be easier and cheaper to find ammo (unless you will be reloading.)
And one other general note. The longer I do this (which isn't all that long.. yet) the more I appreciate a quality scope. I'm almost to the point where I'll buy the scope first and get the rifle with whatever's left.