[Maintainer: Note that this article is talking about a Model 81 chambered in .308.]
I've owned one for several years now and it is by far my favorite lever action rifle (or carbine)...I presently own 6 leverguns of various makes and calibers.
It has a very unique and strong locking system and can shoot all .308Win ammo with ease, including the new Hornady Light Magnum (tm) or Remington Extended Range (tm) .308Win loads. Browning prides themselves that their Miroku built Model 81 BLR is as strong as any bolt action rifle made.
The trigger moves with the lever assembly as it is cycled...and the lever's throw is only about 60 degrees compared to a "normal" levergun's 90+ degree throw needed to cycle to the action.
Some have said that the trigger pull on the BLR isn't as crisp as other lever actions who's trigger don't move with the lever assembly....personally I've found mine to be perfectly acceptable. It's true it's no match grade trigger but after all this is a hunting rifle, not a national match weapon.
The removable magazine holds 4 .308Win cartridges....spare magazines can be easily carried for quick reloading if one desire to do so. Note that the Browning 81 BLR isn't the only lever action that uses a removable magazine; another popular .308Win levergun is the Savage 99C and many swear by it.
The Winchester Model 88 is still widely available at gunshows and misc. gun- shops...it too is in .308Win and has removable box magazine. Since these are out of production now the price tends to run about twice that of the BLR or Savage 99C....at least this is true of the ones I've seen.
Some do not care for the "look" of the Browning Model 81 BLR; these shooters prefer the classic "western" look of the Marlin, Winchester and Rossi lever action rifles and carbines.
To each his own I always say....beauty is in the eye of the beholder.
Personnally I love my BLR; someday I may even purchase one in .30-'06 or 7mm Mag....that is the long action version. The .308Win is a short action variant with other calibers available including .223Rem, .22-250, .243Win and others.
Speaking for myself I highly recommend the Browning 81 BLR as an excellent hunting rifle for anyone who favors a modern lever action design.