"I'd like to know if a quality 16" 308 is *worthy* of a 4-12x40 "
IMHO---NO
Unless you plan to do most of your shooting beyond 400 yards, I see zero need for a 12X scope on ANYTHING but especially something like a 16" .308.
It doesn't take a long barrel to be accurate but it does take bore length to generate velocity required to send ballistically efficient bullets long distances.
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