On my M695 7RM, the recoil lug (for wood stocks) is a seperate "L" shaped piece of metal that does fit exactly to the bottom of the action. This piece then fits nicely into a carved out area in the stock. Nice snug fit with no movement.
On the synthetic stocks, this "recoil lug" is factory imbedded into the stock. The action just bolts right to it.
A recent 7 RM load that I tried gave very good results (about 0.4" 3 shot group). It was: 175 grn Nosler Partition
63.0 of IMR 4350
CCI 250
R-P brass (already fired in this tikka)
bullet Ogive at 2.70" with a stoney point
Of course, please work up to this load, but it is under most books maximum.
With the above load, my M695 did not require any bedding.
Deer&duck