While they are certainly decent budget guns that shoot well, I just don't see the point in the American when you can get a Savage 110/112, etc. for not much more money. They are a significantly better gun.
The problem is that Savage has the cheap Axis line to compete with the American, while the numbered series are their nicer rifles. If you're comparing an Axis to an American, the American wins hands down. However, for an extra $50 or so, you can get one of the numbered series from Walmart of Cabela's. The American isn't in the same class. Seems like a no brainer to me.
My Walmart Savage 10 .243 averages .4" groups at 100 yards with handloads using a 95 Grain SST bullet. That's with the factory barrel.