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Mechanically, they're about the same, but parts are not interchangeable. They're both based on the original Mauser bolt action. The 54's design is a little closer to the original Mauser in appearance. The changes in the 70 were more about changes in style and manufacturing techniques then any major improvement in the mechanics. They're both fine rifles and either one will serve you well.
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Earn +20 ptsQ: Compare Winchester model 54 and model 70 rifles?
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