I had one on a 700 action. It didn't shoot horrible but it was not very good. Hits count for more than misses. If your high velocity thingamabob does not shoot better than a medium velocity thingamabob, the extra velocity is entirely pointless because you can't hit anything with it reliably. The .240 falls between the .243 and .25-'06 in terminal performance. If it doesn't shoot better than a .243 there's no point in having it, just use the .243. I'd have been pretty satisfied with half MOA groups. 1.25 to 1.5 MOA groups won't cut it, that's just missing faster.
Tom
