Your post is right down my alley.
I bought an NEF Handi Rifle a year or so ago. Caliber, .45-70. Soon augmented with a .22 Hornet barrel.
I own several more expensive rifles, including a Ruger No. 1V, but none that is more fun to play with.
First thing I did with the .45-70 was buy a Leupold M8 4x scope for it. The gun rewarded me with five-shot groups of 1.25 inches and under at 100 yards off the bench. Not too shabby for a "cheap" gun. Haven't had a factory-loaded round in it yet.
The Hornet barrel, for all of 80-some bucks, was just as much a revelation. It gave me five-shot groups of around an inch, maybe a tad more or less, depending on the wind velocity. A Leupold VX-1 3-9 power scope added to the enjoyment. Another gun in my safe that has never tasted a factory load.
This rifle combination is not for those who like to boast of how much money they have wrapped up in their hobby. It's a downright el cheapo stick that shoots pretty darn good. My best bargain for the money invested.