Bedding larger caliber rifles can benefit in that it helps prevent the action shifting in the stock under heavy recoil. It can also help prevent splitting and cracking in wood stocks. Of course the primary benefit in wood stocks is to create a buffer that makes the barrel less prone the effects of swelling and shifting due to temp and humidity changes. Because it helps reduce the effects of several variables, bedding should help make a rifle more consistent.
However, in my opinion, if one is wanting to squeeze every bit of accuracy/consistency out of a rifle it's hard to beat a free floated barrel. A decent trigger job will go a LONG way as well...