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One of the first 7.62 reloads used by military teams for was a Sierra 168 gr. HPBT on top of 39.0 grains of IMR3031 for short range. This load was found to be very successful for matches where it was allowed. It would eventually be loaded by Federal in the mid 1970s for the Marine Corp team; becoming the Federal Gold match load in 1990 (though bumped up to 41 grains of IMR 3031, with a subsequent shift to IMR 4064. The USN teams also used it.
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I would agree about 39 grains out to 300 yards, I used 40, but I needed more velocity than 40 grains would have produced at 500 or 600 yards.