Quoted:
Those who often tell you about stabilizing 62 grain bullets with kick arse results are shooting shorter FMJ lead core bullets and not the M855. As stated earlier by another poster it is bullet length not weight that causes the problem, the M855 long for it's weight. 1/7 is the best twist for the widest range of projectiles although 1/8 is acceptable also.
Again, I was shooting M855 (Steel core, magnetic) rounds out of a 1/12 barrel, and they worked just fine at 100 yards, but again, it was a very hot (95+) day, and I understand that as temperatures drop rounds don't stabilize as well. The groups I were getting were larger than what I'd have expected with 55grain rounds, but I didn't have any keyholing or huge shotgun like patterns. The only reason I was shooting the 62 grain ammo through that rifle was that I'd screwed up when I left home (Indiana) and was all the way in Houston, TX, before I realized I'd grabbed the wrong boxes.
For what it's worth, about five days later I had the same rifle out in ~50 degree weather back closer to home, and the same 62 grain ammunition was flying all over the place at distances of 50-75 yards, so again, I would never intentionally repeat that experiment since I bet it's mostly pointless to try it most times and probably just a waste of ammo. My buddies took me to the local shop, I picked up some M193, and the rifle was shooting AOK again.
As for the best twist, I'm going to say that 1/9 is probably my favorite, since it seems to handle just about everything, and doesn't wear out as fast as 1/7. But hey, the great thing about America is that we can still spend our own money of what we want...So far...