I have 2 Encores and 2 Ruger #1's. I don't have a .45-70 barrel for my Encores, but one of my #1's is a .45/70 and I have a .45/70 Handi Rifle. My opinion is that if I didn't have either an Encore or a #1, I'd probably buy the Encore first. The Encore is just a terrific platform for so many things that even if at some future point you don't stick with the .45/70, you can have almost anything you want, and hunt anything with the Encore. Mine have CF rifle barrels, slug barrels, birdshot barrels, muzzleloader barrels, and a variety of stocks. I know it is not universally agreed upon - but I for one very much like the looks and the feel of the Encore as well. The Ruger #1 in my opinion is about the most elegant rifle that I can afford. I have an International in 30.06 and a Sporter in .45/70. Both are good shooters and I enjoy shooting them.
If your tastes run to blue and walnut, both TC and Ruger generally give you pretty darn nice wood, and a nice fit and finish. Since I have no .45/70 barrel for my Encores, I can't comment on the difference in shooting the Encore vs. the #1 in that cartridge - but having shot everything else in the Encore, I don't think there would be any surprises for me. The #1 loads will be stout in either model. Either gun will handle well and be easy to carry. I guess if you like the switch barrel concept and a wide variety of barrels, stocks, cartriges, etc., the Encore is a good choice. (You'll soon have more $$$ invested in it though than you realize, but the barrels and accessories are easy to sell. I agree with Marlinman to some extent though - the barrel switching (although easy) becomes less of an attraction after a while. If you like one rifle per cartridge, and a really fine rifle, then the #1 gets the call. I believe the choice with these two is between "great" and "wonderful". Both have some common criticisms regarding accuracy and consistency. All I can say is that I have had no problems with mine and both TC and Ruger in my experience stand behind their products very well. I would by either with confidence. That's it - buy 'em both!