I have one in 6.5 Swede, and I love it. The rifle is heavy, and the action could be smoothed out, but it is accurate and recoil is minimal due to the stock weight and round energy. I personally am not crazy about the european Monte Carlo stock, but on softer shooting rounds, it is ok.
I did not try out the iron sights, how do you like the sight picture? I just put a Weaver Grand Slam on it with Millett rings. I may eventually purchase Warne quick release rings so that I can take advantage of the iron sights if necessary (the scope becomes damaged).
All in all the CZ 550 have lots of pluses and are generally very accurate. The minuses are the heavy stock (I don't mind) and the sometimes rough actions (just polish it out with a stone).
I am considering in the next year or two buying their American stocked Magnum in 375 H&H.
