Tikkas are wonderful rifles.
I have a Tikka T3 Lite blued in .308Win.
There isn't any premium ammunition that I cannot shoot into 1MOA. Most premium ammo will do 0.8MOA for average groups.
The smallest groups with hunting ammo have been 0.5MOA and the best groups I've ever shot were 0.3MOA with Black Hills Match 168gr BTHP.
I just got into reloading so I haven't been able to really test this rifle out.
This is a typical group (not the best) with 168gr BHA Match:
The holes were the 2-4 shots out of a clean barrel, so I attribute that farther hole toa still unfouled barrel.
Do a search on Tikka and you'll see other threads about them.
"For a cheap rifle its shot very well"......I don't think a $535 rifle is cheap.
For a T3 Lite in blued steel around here they are $475 new. I got mine for $425 used (it looked brand new to me).
That is cheap, it's only $75 more than a Rem 700 ADL blued synthetic from WalMart.
It's worth noting that while TargetShooter2 said all T3's use the same long action, short action cartridges still have short bolt throws because the bolt throw is controlled by the bolt stop.
TargetShooter2, what did you use to color the stock?