Earl,
That looks like a two position safety, the same one I have on my 98. The LaPour and Gentry mentioned earlier are a good bit more expensive and are 3 position.
You can configure the 2 position to not lock the bolt and then it works like a M-700 safety, the newer 700's don't lock the bolt. I've altered my older 700's to not lock the bolt. I like to load and unload on safety.
I'm not sure what the lock down bolt handle accomplishes. I can see the theoretical issue of the bolt handle popping up, stalking thru the bushes. It just isn't a problem for me.
I'm going to work on my 2 position 98 safety so that it no longer locks the bolt. For my tastes, the 3 position safety isn't worth the extra cost. Others may disagree...
Jim Kobe can do either one. BTW, he fitted the Shilen barrel on this 98, safety and bolt handle work was done before I bought the action. Nice work, unknown craftsman.
DF