Yes, it does have the "no tools" quick take down forend. Very well done, and lock-up adjustable I might add. Once the forend is removed, which only takes a nanosecond, the barrel will pivot off the frame by simply pulling on the breeching lever. The hinge pin stays put, like it should, IMO.
Can be broken down into three parts (forend, barrel, receiver/stock), in just a matter of 1-2 seconds.
Not sure about the .45-70, but it is standard on the Scout V2 .450 Bushmaster.
I wasn't sure I would like it, thinking it might get sloppy over time. Boy was I wrong. It is adjustable for both length and height. Very well done locking mechanism that rides on the opposite side of the hinge pin as the barrel lug, and a free floated forend.