I've owned several savage 223's, mostly the heavy barreled variety.  I've sold them all for one sad reason or another, but never for poor performance.  The last one was a predator model and it was a very boring rifle to shoot.  I go to a long distance shooting range and out to 700 yards was a no brainer with that rifle.  I genuinely can't think of a better rifle for plinking near and far than a savage 223.  
 
I'd have to agree with the other guys on caliber though.  Not that a 223 won't take a deer, but if you're buying it specifically for deer why not get a little bit bigger caliber?
 
FYI, currently I'm thinking of buying one of the new 10FP-SR models that comes with a threaded barrel.  If nothing else I could put a flash hider on it, but it should be a sweet rifle.