Back in the late 90's, Lester had McMillan manufacture this action, I remember the Ad said it was to Lesters specifications. McMillan has been manufacturing actions for quite some time, they will build such to a vendors specifications.
I bought one, I wanted to build my Son a Benchrest Rifle, the price was right. It is a typical McMilann product, the action body is probably 17-4, the bolt is "case hardenned" to about 60RC for an anti-gall quality, with the center left ralative soft for strength. The fit and finish was what it should be.
The bolt featured a single twist firing pin removal, which was a decent idea, except they made the shroud out of aluminum. That single little securing lug, which absorbs the thrust of the cocking cycle, wore very quickly. I sent it back and they replaced it with another aluminum one. I figured it was a design flaw, so I chucked the bolt up and converted it to a Remington style screw in shroud, (I used a Davidson Shroud), which was no easy task considering the case hardenning of all the bolt surfaces.
I also had to bush the firing pin hole, as it had a .078 firing pin diameter, and had too much clearance. It cratered primers even with lighter PPC loads, much like a Remington will do.
Aside from that, it was a well made action, has a Sako Style Extractor, has a generous primary extraction, the Rifle shoots pretty darned good, once I cured that shroud problem.
Bat uses a similiar system, but it is made of steel, so the wear problem is a non factor. If the one you are looking at has the aluminum shroud, you will have to address it sooner or later.
Also, the firing pin is screwed into the cocking piece, like Bats, with a tiny set screw that secures it. It will come loose unless you take it apart and Loc-Tite the set screws.
Hope this helps..........jackie