Grasshopper.
I did not mean to come across as such a curmudgeon ,but damn, folks talk about those earlier no 1 rifles like most of them had wood on them like a Grade V Browning Superposed or something.They are not.
I've been sorting through Ruger no 1s since the mid 1970s and Really, only about 10-20% of ANY vintage seemed like they had would that truly rose to the level of semi fancy, and only about 5% you will ever see are AA fancy or better and MOST of them are poorly laid out in terms of grain flow.
About the time Ruger raised their prices quite a bit about 6-7 years ago was when wood quality jumped a bit. You see far less dog plain ones than you used to. I would say that most of the post 2005 rifles are as nice as those made in the 1970s across the board in terms of wood figure.
Actually, given what they cost now -about a grand brand new, I would send any new No 1 with plain wood BACK to Ruger and tell them what I thought of the firewood they put on my new rifle!
As to fancy wood on factory No 1s, about 20 years ago, I got a no 1 test rifle directly from Bill Ruger's office in Prescott. It was a no 1V in .220 Swift and was a 1990 or so made rifle. Anyway right out of the box is had nice feather crotch walnut on both sides. Not Exhibition grade, but certainly solid AAA Fancy crotch, even on both sides.
Anyway, I was happy as a pig in slop for about 2 months when the rifle developed a crack right behind the tang. Even though the blank was quarter sawn and perfectly laid out through the grip- it still cracked. I sent the gun back to get it replaced.Sure enough the new stock, while nice, was but a mere shadow of the first one.
Anyway that rifle illustrates "Jim's rule of pretty factory guns". That is ANY factory gun with above average wood figure WILL have either a mechanical or workmanship flaw in it. It also will likely not shoot worth a damn.
Conversely, rifles with butt ugly wood usually work like Swiss watches and shoot like benchrest guns.
It's the Gun Gods' way of telling us "don't be greedy gents, you can't have it all and you cannot get something for nothing.. At least that has been my experience.