There are lots of upgrades for the Savage. The MLII is basically a Savage model 10 without the bolt lugs. Strongly consider the bushing plug. In a 50cal those bushings will likely last for years. Ive worn out vent liners in well under 50 shots but they are not very expensive. Roughly $3-5 each depending on brand and easy to replace.
You might want to take a couple measurement too. Knowing your stock bolt spacing and shank size might come in handy later on. There were 2 stock bolt spacings, 4.27" and 4.40" Also known as staggered or center feed spacings.
There were also standard and large shanks. The shank is the part that screws into the action. The quickest way to determine what size the barrel shank is on your rifle is to measure the length of your barrel nut. Standard shank nuts are 7/8" (0.875") in length, whereas large shank nuts are 5/8" (0.625") in length.
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http://www.savageshooters.com/attachment.php?attachmentid=619&d=1327338746 
