mrbeer,
yes .223R can hold its own against .308W in 1,000yd F-TR competition. You need to load 90gn Berger or JLK high-BC bullets and these need a 1-7" twist barrel (maybe 1-7.5" at a pinch), plus a VERY long freebore chamber to allow these exceptionally long bullets to be seated well out in the case.
The 90gn Berger VLD has a G7 BC of 0.281 v 0.283 for the Berger 0.308" 185gn Target BT Long-Range, arguably the finest bullet for F-TR in the .308W. (0.551 v 0.553 G1 BCs). You can get the same or even better MVs in the .223 with a suitable chamber from Re15 or Viht N550 as from .308W with 185s. I run the VLD at a shade under 2,900 fps, and the Berger 90gn BT Long-Range at around 2,850 fps with Re15 using a Savage 12 single-shot target action and 31" 1-7" True-Flite 6-groove barrel. You might not get these MVs in the USA from this action though without piercing primers - we're a lot cooler here in the UK in our summer. A BAT, Barnard etc would be a nice bit of insurance here. A Remington 700 needs the firing pin turned down and bolt sleeved if you want to get anywhere near these MVs.
Downsides - it's a fussy little so and so! Primer sensitive too, likewise appreciates quality and prepared brass. It's a much more difficult proposition than .308W to get loads that produce small MV spreads, in fact it's very easy indeed to get 40 fps + ES values.
There will be some who simply won't believe that any .223 load will work at 1,000yd. Have a look at these websites:
http://ukbra.webs.com/newslinkscompetitions.htm
and scroll down to 'Latest Competition Results'; click onto 1.8.10 1000 yard BR. The fourth place man is me with three sub-10" groups with the .223. Don't ask about the first 14" group - me not the rifle and cartridge!
http://fclassuk.webs.com/competitions.htm
Report on the GB F-Class Assoc national league round 5 at Blair Atholl's notorious Glen Tilt range two weeks ago. Five matches at 1,000yd - 7th in F-TR with the .223R on its first long-range F-Class outing. Spoiled by a score 6 or 7 rounds off the pace in Match 1 that I wasn't able to recover from. 412.11 ex a possible 450.90. (Our Bull scores 5.)
Finally, for a description of the rifle and the philosophy behind it, visit the free online magazine:
http://www.targetshooter.co.uk/
for part 1 in the current August issue of a feature jointly by me and the rifle's builder Vince Bottomley. Part 2 will describe the piece in greater depth and first results in the next issue, online on 1st September. I will cover handloading .223/90 in the November and December issues.
So, if you fancy .223 it'll do the business, but it is harder work than .308W in the handloading and load-development side. It will NOT match the ballistics of a hot .308W load with 210gn VLDs, but then it will be much easier to shoot accurately and consistently than such loadings in the bigger cartridge.
I hope these points help. Good shooting.
Laurie,
York, England