I believe Sears has ended this recall. The recall went on for decades on both 12 ga and 20 ga bolt action shotguns.
These shotguns used only the bolt handle as a locking lug. This is rather unsafe since if the bolt is not fully closed when a shot is taken, and something goes wrong, the shooter can end up eating the bolt. It could ruin your entire afternoon!
That being said, the incidence of failure with these shotguns is quite small. Course, that's small consolation if you are the rare person who gets a chance to eat the bolt.
You have a good platform on which to practice your gunsmithing skills.