Your location says, "New Jersey" where hollowpoints are illegal last I checked, at least for handguns. If you are talking "open tip match bullets" for rifle, those will punch through soft body armor just fine.
M855 penetrates just fine, don't know where you got data saying that a bimetal jacket FMJ would penetrate better than an SS109 bullet. Not that it matters, at rifle velocities even soft points will punch right through.
Machine guns are awesome until you have to carry one.