I've spent quite a bit of time in the last 15yrs doing three things relevant to this conversation:
1) Talking with different guides regarding DG hunting and kit selection
2) Hunting with a 45-70
3) Hunting with DGR's (even if it's rarely been for DG - 416Rig makes a heck of a deer rifle, 338wm is a hoot on coyotes)
In general, every guide or PH that I've spoken to about using a Marlin Guide Gun .45-70 with Marlin only loads has responded the same, "Well, it's not really popular, and I'd recommend something else, but I don't really see anything wrong with it." I've even spoken with African PH's that were just fine with my desire to use the Marlin Guide Gun for heavy DG, even though they admitted that it was WAY out of left field. Of course, that's talking about Marlin only loads that are creeping up into 458wm ballpark.
Overall, the message I get from them is that it isn't a "bad choice, but there are likely "better choices".
There's no doubt that the .45-70 will kill any bear it encounters, and likely do so just as quickly as anything else would.
I hear a lot of folks touting that the .45-70 is a "very range limited" weapon, but what is "limited range?" I certainly don't qualify 250-300yrds as "limited range" for any of the hunting I've done in the last 20yrs, and for what it's worth, I also have NOT had a single guide or PH, whether it was for brown bear or for cape buffalo, tell me that 250yrds was "too short" either. I've been on two DG hunts out of country and never took a shot over 200yrds.
Without question, however, it's a lot easier to hunt a flatter shooting cartridge, but if you can manage the marksmanship, the .45-70 isn't a bad choice (just might not be the "best choice").