Landowner,
I just sold a M70 Classic Featherweight in 7mm-08 a few weeks ago and I remember the "CLASSIC FEATHERWEIGHT" stamp on the barrel with the same lettering type, i.e. not having the "FEATHERWEIGHT" in italics as yours appears. However it was clearly all there. My rifle was made 3 yrs ago. Is your's new ? I'm guessing Winchester has a roll stamps for these barrel markings.. and they change to a new one when they wear out .. looks like they were ready for a new one. That or the stamp wasn't applied properly.
I have old Winchester's (M12's) where the serial numbers show lighter at the end of the number string..and difficult to read.. simliar to that.
BTW, I also had a M70 Classic FWT in .270 That I purchased new in the late '80's. Sold it to a hunting buddy.. (my mistake) it was the push feed type and what a great shooter ! I'm still working on him to get it back.
Good luck with your's... Rob