OK, I have both. I have a Tikka M695, Laminate SS, in 25-06 Rem, a Tikka T-3, Synthetic blued, 223 Rem(1:12), and a Winchester M70 Weather Extreme(syn SS), in 300 WSM. The M70 is made by FN, in SC.
Yes Tikkas have smooth actions, and yes both of mine are nicely accurate for production rifles. The triggers are adjustable, and break clean, with very little travel. The M695 is basically a Sako, with a different name stamped in the barrel, and IIRC one lug less on the bolt head. Both of the Tikkas can turn sub-MOA groups, with handloads developed for them, and the trigger guy is on his game.
This new M70 has impressed me. The action is nice and smooth, the CRF is nice, the giant claw extractor is nice, the new trigger adjusts nicely, and the trigger breaks very cleanly, with very little perceivable travel. Now for the good news. This 300 WSM made me extremely happy, when the first new 130 gr. TTSX loads, being developed for an upcoming antelope/deer hunt, turned 3 sub-MOA groups, and one 1 MOA group. I was working on a 150 gr. TTSX load, for northern whitetails/bear, and was getting 1 MOA average groups, but still held out hope for a sub-MOA load. I switched to 130 gr. TTSX bullets, for WY, and got excited on the first development groups.
So here is my take on the OP's question. If you want a classic American rifle, that has made a come back to the pre-64 M70 like rifle, from the budget push feed M70s, and you can stomach the price, then this is a great rifle. If you want an easily less expensive rifle, that will like be the equal of, or better than, the new M70, accuracy wise, then Tikka is your choice.
Squeeze