The velocity can hold up to above speed of sound out to 500 yards or so. I think it depends on the rifle for the accuracy part of the equation. My Mini-14 is only good for 6 inches at 100 yards with 55 gr FMJ and 3-4 inches for 75gr. That makes it only good for 100-200 yards depending on load.
There are High-Power match rifles used out to 500-600 yards in the AR-15 configuration. Never fired one of these, but it seems that it is more the limitations of the individual rifle than the round.
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