They can be capable of great accuracy. The #1 can be superbly accurate, though sometimes it may take a bit of tweaking. The .45-70 is nearly legendary for accuracy. Fear not on that end.
Also, worry not about eye relief. Some folks/scopes have problems, but most don't. A low fixed or low variable would work fine. I have a straight 4x on my RSI, and eye relief is no issue.
As for recoil, you can take the .45-70 anywhere you want to go.
Load it light (all the way down to .45LC ranges), and it's a powderpuff.
Load it up to BP standards and standard factory load ballistics with the 405 gr. RN, and it's no problem at all. About on par with a .30-06, if that.
Move up to the 300 gr. +P factory stuff, and you've got maybe up to .300 magnum recoil, but not as fast as the magnums.
You can keep going up in power with the .45-70 in the Ruger #1 until you approach or equal factory .458 Winchester Magnum ballistics... and THAT will get your attention in the light #1.
Under $800 is a pretty good price for a slightly used #1 in .45-70, and a fine price on a NIB. Prices have, and will continue to, rise over recent years, so if you want one, you'd probably ought to jump on this one.
