Pete
By bolt timing are you referring to the timing of the extractor cam or cocking cam?
One thing that seems to be popular with Savage actions is to re-mill the angle of the cocking ramp to give it more slope and making cocking/bolt opening easier. I have never done that and will leave it to the experts to explain the process, if that is what you are wanting to do.
To change the timing of the primary extraction you need to remove and re-attach the bolt handle.
After removing the bolt handle I slide the stripped bolt into the action and rotate to the position it will be when closed. While holding the bolt against the integral lug abutments in the action I screw a screw into the front action screw hole to hold the bolt in place. I then place the handle on the bolt in the closed position and clamp it on with a pair of needle nosed vice grips that I have machined down so the jaws are parallel when clamped on the bolt and handle. If you are going to silver solder the bolt handle back on you will want to have your strip of silver solder between the bolt and bolt handle before clamping the handle on. Next I remove the front action screw and check for proper function of the bolt. First I make sure there is a slight amount of slop in the bolt forward and back I mean very slight just enough that the handle isn’t putting pressure on the lugs(if I understood 4mesh correctly he doesn’t want any slop here). Then I rotate the bolt and check to make sure that the extraction cam on the bolt handle isn’t out of time with the bolt lug ramp on the integral action lugs if it is adjust by trial and error until there is no interference. You could re-mill the lug ramps on the action but that requires special tooling. After you are satisfied that the timing is correct go ahead and solder on the handle or TIG weld it on or however you are going to attach it. If you TIG weld it I would spot it and recheck before finishing welding it.
It’s a lot easier to do than explain.
James