Finally got the new rifle out to the range. Since I don't yet have any fancy match-grade ammo, I had to make due with an abundance of Federal Champion 40gr round nose, rated for 1240 fps. The rifle works OK with it, but the accuracy isn't stellar.
After about 10 rounds to get it zeroed for 25 yards, I punched these patterns into an M16A1 silhouette paper target.
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At 25 yards, the largest 5 shot group (upper right) was 0.75", with the smallest at 0.41" (upper left).
I will say, this ballistic calculator app i got Strelok Pro is great. Punch in the numbers and it yields remarkably good doping adjustments.
Out at 100 yards, the results with this ammo weren't nearly as consistent.
Top two silhouette 5-shot groups measure 1.45" (left) and 1.55" (right).
Middle two groups are both at 2.8".
Bottom right is 3.0", and the worst group was bottom left at 3.7"
Honestly I wasn't expecting much better than 3 MOA for cheap bulk ammo so the top two groups were a pleasant surprise. With match grade standard velocity ammunition, hopefully I'll get it down below 1" groups. I know that high velocity bullets tend to reach transonic just after 50 yards which can cause the bullet to destabilize in flight and reduce precision. 1070 fps ammunition should be just barely subsonic at the muzzle and thus avoid destabilizing in flight.
(please excuse the "meters" caption I wrote on the targets, as my brain was frozen at the range today and was engaged in a conversation with someone else while I was writing. Probably a negligible difference at 25 but at 100, that's a 9 yard/27 foot discrepancy).