Let me add my 1-1/2 cents.
Excluding shipping, taxes and FFL fees (YMMV depending where you live) the general price of the Savage MKll BTV is $445 and the Keystone 722 Varmint is $700 so you may not be comparing apples to apples.

The few reviews I have found for the Keystone are favorable relative to general workmanship customer service and accuracy. How accurate it is with Lapua or Eley ammo I could not find any info.

I have my Savage Mark ll BTV for over one year and have used it in ARA and National 50 events in the Factory class.
Disclaimer: I believe I am a reasonably proficient marksman so between the rifle and myself I am in the middle of any competition using Lapua Center-X ammo and a 40X scope shooting off of a Harris bipod and a Protektor rear bag. Best ARA card was a 2,500/2,500 (once) and Best National 50 card was a 250/250 with 248s & 249s. And the lowly Savage was competing against Bagaras and CZs.

If you can spring for the $700 price tag, consider going up to a CZ457 Varmint MTR ~$900. It has the capability of interchangable barrels & calibers.

 

The 722 Varmint is not $700 (hope it's OK to put a link)

https://www.sportsmans.com/shooting-gear-gun-supplies/rifles/keystone-sporting-arms-precision-722-varmint-blued-bolt-action-rifle-22-long-rifle-20in/p/1791743

What 40x scope do you use on your BTV?

 

The 722 Varmint is not $700 (hope it's OK to put a link)

https://www.sportsmans.com/shooting-gear-gun-supplies/rifles/keystone-sporting-arms-precision-722-varmint-blued-bolt-action-rifle-22-long-rifle-20in/p/1791743

What 40x scope do you use on your BTV?

Sorry to take so long to get back to you:
It is a Mueller 40x-56mm Target scopes - Mueller Rifle Scopes
It is now migrated to my new CZ 457 Varmint MTR (this week) to see if I need two. LOL

 

Target shooting only, at 25, 50 and 100 yards
I'd like to find a scope at Sportsman's Warehouse (I have a gift card I'd like to use....)