I've had several of both. The Savages were marginally more accurate, on average, although not all my Savages were more accurate than all my Rugers.
Savages definitely look like economy rifles up close. The bluing is matte and machining marks are evident. Rugers tend to have a very nice finish with deep bluing.
Savage plastic stocks are typically pretty bad. The old Ruger plastic stocks were very ugly and fit no one, but were still not as bad as the incredibly flimsy "tupperware" plastic stocks still put out by Savage. Yes, there are aftermarket composite stocks available for most Savages, but Savages stop being quite such a bargain when you figure in another $150 for a replacement stock.
Yes, most Savages are free floated, but most Rugers are "pressure bedded" which is a more difficult process and arguably superior. (Okay, very arguably.)
Both, in my experience, are quite reliable and quite tough. One may hold up better than another if abused, but I don't know because I don't abuse rifles. Both, essentially, do what rifles are supposed to do. You just have to decide whether better workmanship and appearance are worth the extra $$$ to you.