I have a 597 as a backup gun to my Anschutz 1710fwt for sb silhouette. I have found that after I fixed the trigger and the ejector problem that this gun is a competitive .22.
My 597 is SS and laminate, I have free floated the barrel, changed the trigger hammer, and fixed the ejector. This rifle will consistently shoot 5 shot .5 in groups at 50 yards and will keep 5 shot groups under 1 inch at 100 yards.
I have found that this rifle is picky on ammunition. My rifle will not shoot the high velocity ammunition very well. But, it loves ammo such as RWS target, R50, Wolf MT, Eley, these are lower velocity ammunitions and they shoot well. However, because these are lower velocity ammo the factory ejector seemed to cause me problems every once in a while, however, it no longer has any ejection problems.
The main flaw that I have seen on my 597 is that the receiver is too soft. I tried mounting Leupold rings and bases and they fell off because the threads pulled out of the mounting holes. I have been forced to use the machined rails that are built into the receiver.
My 597 sports a 4-16 power Sightron scope, and I have been able to do quite well in matches with this rifle.
I think it all depends on luck if you can find one that shoots this well. However, they are a lot of fun to toy with.
Hope this helps.