I had a 7400 in 270, hated it, and sold it at a loss just to get rid of it.
It would only feed spizer rounds; semi-round nose or hollow-point bullets (e.g. Barnes) would hang up on the chamber lip. There was no way to clear this feed jam without pulling the magazine. Unfortunately, when you pull the magazine you also remove the bolt stop (it's the mag follower) - meaning the bolt now wants to slam onto the fingers that you have inserted into the action to try and clear the feed jam caused by the fact that it wouldn't feed half of the commercially-available ammo I tried.
Moreover, I couldn't for the life of me figure out how to actually clean the breech end of the weapon since the manual pretty much told me that I wasn't capable of removing the bolt. Given how much I hated its manual of arms, I wasn't much in the mood to figure out how true this was and just accepted the Remington advice at face value. Mine was made in 2002, and it was full of all sorts of sharp edges that would bleed me every time I used it. Maybe the older 742's were better finished, but the late-model stuff is truely horrid.
All in all, between bleeding me with its sharp edges and crushing my fingers every time I used it or tried to clean it, it was the most un-user-friendly platform I've ever owned. Good riddance.