I would imagine somewhere around 50 inch-pounds. Tighten the 2 outer screws first, then snug the center screw. You don't want it tight or you will spring the action.
I'd take a chance on it. My dad gave my daughter one in 257 Roberts. It is one of the last WRAC guns, and it will drop every shot in a nice little ragged hole (with her doing the shooting no less). My later 308 Classic won't do that even on a really good day.
I'd say for the price you can't...
I ended up removing the wedge and bedding the lug. If you use a torque wrench you should get consistent bedding, but I always had 2 groups. Ended up selling the rifle for other reasons.