Stan: I've had a 527 in .22 Hornet for a couple of years, and I couldn't be more pleased, although it does have a couple of limitations. The barrel dimensions are "old school," and typical of the European Hornets... .2232 groove diameter and 1:16 twist. I've shot both Sierra .223 and .224 Hornet semi pointed bullets with excellent accuracy though. My best load (VV N110, WSR primer, Win. brass, and 40 -gr. .223 Sierra Hornet) groups on the order of .7" at 100 yards for 5 shots. The magazine limits overall cartridge length, and it's not possible to seat bullets to touch the lands and still fit in the magazine.
The bolt travel felt a bit rough when it was new, but it "worked in" nicely. At first, I pierced a couple of primers, but the firing pin protruded .060". After reducing the firing pin protrusion to a more manageable .052", I haven't had any more primer problems.
Overall, I'd have to rate the 527 as one of the best of the Hornets I know of, unless you want to spend a LOT more on an Anschutz... and even then, I'm not sure of the Annie's rear locking action. I love the front locking "miniature" 98 style action on the 527.