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It should be, but if the owner took it off because he didn't like the way it shot, then I'd be cautious.
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Most of us that take OEM Savage barrels off, bought the gun for the action (much lower cost) and plan on a barrel upgrade.
If I had one of the Cabelas 12FV or 10T models, I would shoot that barrel and see how it does.
In the case of the 30-06, I got a stock and a rail with the gun which is all I wanted and I put a Bull Shilen on it. I didn't shoot the pencil barrel other than to confirm the action worked correctly.
I also have a 270 that I bought as the rifle was on a very good discounted sale, the barrel is off and its now a 7.5 x 55 Swiss.
As noted they usually are good enough hunting barrels and no one buys them for target work.