I recently made a trade for a pre64 M70 and noticed it has 4 action screws instead of three like on the post64. My question is, does the farthest forward screw act as a second recoil lug and what is the proper torking sequence and tork value for the pre64 action?

Some of the pre 64's have a small screw in the forend that holds the long barrel about in it's middle.

Start with the forward guard screw and leave it just snug then do the same with the rear and middle screws. The tighten up the foward guard screw tight and then the rear. Leave the middle guard screw loose, just tight enough to hold the guard.

Then tighen the screw on the barrel. You might have to play with that screw to find the best peformance and that adjustment can range from tight as I said to no screw at all.

Good luck and tell us more about the rifle and how it shoots.

Details of trade and about the rifle. The guy didn't want this "OLD" used bolt action!

I traded a model 336 Marlin 30/30, excellent shape, less than 100 rounds through it and a 6 year old Redfield 4x12x40, for a Pre 64 M70 in .270 cal! The M70 still has factory sights but no hood on front sight. Still has most of the finish on the stock with just a few very small dings, no scratches.
Bluing is in fair to good shape, being worn off the muzzel, bolt handle, and magazine cover, from being carried, {Previous owner was definately right handed}
One other rubspot is just infront of the rear sight like maybe from riding in a pickup trucks gun rack. Very minor rust pitting in a couple spots on the barrel. Bore looks very very good!!
Bolt opperates smooth as a babys butt and tight, shows no wear on bolt face. I took it out of the stock and it was as clean as could be! Not even any dust in the crooks and crannies!
I took it out to the range and fired 3 rounds, all stayed within an inch and a half, cleaned it and put it back in the case!
Trigger has had some work, smooth, hardly any creep and about 3 to 4 pounds will make her sound off.