The 110 and the 116 are identical except for finish. The Savage 110, 111, 112 and 116 are all identical, so that stock will work for you.
I can't help you with you finishing question, but I can tell you I put a Boyds lamiante stock on my Savage 111 and glass bedded it, and it's more accurate than before. In general, I'd say if you glass the gun in a laminate, it will be more accurate. The Savage factory synthetic stock, while economical, is not very stiff, and therefore in general less accurate. You should enjoy the result of a new stock.