C-H, I'll try and give you a couple of quick answers. No, it's not authentic.
There was a Wesson tip up rifle in the 19th century, and it folded in the middle, but that is about the end of the similiarity.
The 45-70 came along after the peak in buffalo hunting.
They are accurate, and a lot of fun. The design has been around a long time and seems very solid. They are simple to work on. If you want a 45-70 for hunting, the short handi-rifle would be an easier carry.
I just shoot targets with my buff, but the 45-70 is a fun cartridge to load, and pretty cheap with cast bullets.
Ed