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but you can take advantage of the 788 to load up pointed bullets. Or you can by "LeveRevolution" ammunition.
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I hoped so when I bought my 788 in .30-30 but it hasn't been the case. I haven't tried the Hornady bullets, but the real limiting factor to the 788 has been the magazine. It doesn't allow you to load anything but the lightest weight spitzers in it. If you want to shoot sub 130 grain bullets you will be fine, but anything larger than that you have to seat the bullets too deep to work effectively. With the Hornady bullets if you don't buy factory loads I've read you have to trim them shorter than normal to get the ammunition to get it to function correctly for the reloader.
That said when I first shot my 788 with factory 150 grain Wincherster ammunition it printed several sub MOA 3 shot groups at 100 yards. With the spitzers I haven't shot anything better than 1.5" at 100 yards. Anyway you look at it it will be a great starter rifle for your son.