Please don't flame me, I looked over the threads and didn't really find much.

Anyone use this ammo?  I've got a Colt 1/7 and am looking for some decent 62gr ammo to shoot.  Ammoman has it listed for $219/1000.  What do you think?

How is it as far as accuracy, reliablitly, etc. ?  Is there better ammo out there for the price?  If so, what is it?

Use it. But I dont like the loose packed stuff. go for the stuff on strippers.

I have shot a couple of cases. Not the prettiest looking, but it went bang every time. Mine was the loose packed, none of the cases had any major issues. I guess I got lucky, some people have reported some seriously screwed up cases with both the XM855PD and XM193PD ammo.

Being basically military ammo, it's not going to be the most accurate ammo out there, but that's up to the rifle (and the ammo lot) to decide. Generally you should expect no worse than 2 MOA, 1 MOA would be a dream.

I wish it were cheaper, for the price you can get brand new Winchester or American Eagle ammo, either in 55gr or 62gr. Just because you have a 1:7 doesn't mean you have to shoot only 62 gr through it. It can handle 55gr just fine. Again, your rifle will make the decision about what bullet it likes better.

Many on the forum have reported problems with the loose XM855PD.  I don't doubt them but I have been using it for 62g pinking ammo for years and have shot over 5k rounds out of 4 ARs with it and never had a problem.  I have a large stash of the M855 on strippers, supposed to be front line, and I don't any shooting or QC issues with that either.   I also use it with a Colt 1/7.  Try the lose stuff.  
Aim surplus had some M855 ADCOM on sale for 170 per k deivered.  They list it in the ammo price list.  I have had good luck with that also.  I don't stock the loose M855 or ADCOM for SHIF but I will use it for pinking any day.  Just look at the rounds when you put them in the mag.

For plinking - it works fine.  
Hunting Varmints - maybe.
Personal Defense, NO.

I've never had a problem in any of my 5x AR models made by everyone from Armalite to RRA for plinking.  Even with my 24" stainless varminter, I get 3-4" groups at 100meters (34degrees, 15mph winds).  I dont use it for varmint hunting because its not as accurate as say BH 68 or 77gr.   The stripper clips are an advantage if you hate loading mags one rnd at a time.

NATCHEZ has some FEDERAL 62gr NATO on sale RIGHT NOW for 179.95/1000

Bought 500rds of M855 from AMMOMAN best LC M855 I ever shot ! Better than my 98  year I had
Came on strippers not loose! buy the Can with Bandoliers etc.
The loose stuff is also good but I rather have the Extra stippers.

I Remember a few years back guys were dieing to get some LAKE CITY M193/M855
And now all they do is worry who,where,what,when??

I would buy as many different boxes of ammo that I can find incuding some of the 62 grain. I had a colt HBAR in the 80s with 1/7 twist. It shot the 62 grain LC very well. It also shot cheaper ammo like UMC and American Eagle nicely also. There were other that it didn't like.
One it liked really well was Federal 55 grain Soft Point. Its expensive but would shot me what the gun could really do.
JRandyH