Other than a few reviews I have read (which must be taken with a grain of salt, of course), I have no experience with Steyr. I am a Savage 10 owner, though, and I love it.
I am generally a proponent of finding a balance between high quality and low cost, and the Savage 10/110 is a good way to strike that balance, since you can often find them at lower prices than other rifles of comprable quality.
Just my $.02