I now have 3.
The 1975 180 series is ultra-reliable, and shoots 2.5-3" @ 100 yards (iron sights).
The mid-80's Stainless standard is mostly reliable (all mag problems, I can't seem to stop buying other guns long enough to save for enough (10 or more) factory 20s). The barrel has been cut to ~15" with the A2 style flash hider welded (totaling 16.25"). With a (cheap) ATN Ultrasight (I think thats what they're called), it shoots around 2" @ 100 yards.
The early-90's blued ranch is mostly reliable (again mag problems). The barrel on this one has been cut to ~13" with the M14 style flash hider welded (totaling 16.125"). With Leupold Rifleman 2-7x32 mounted, it shoots around 1.5-2" @100 yards.
As others have stated, they are reliable guns, accurate enough for most people in all but benchrest comps. Certain different tricks (like the shorter barrel) will improve accuracy. Also, Accuracy Systems, Inc. can build an extremely accurate rifle out of them.
And at $375 I'd say buy it. I paid for mine $250 for the 180 series (in 1992), $400 for the stainless (in 2005), and $450 for the ranch w/ folding stock (in 2006).
As long as you're not expecting MOA accuracy with it, I don't think you will be unhappy with the rifle.