It is a nice accurate round, used to be wickedly accurate from my accurized AR15.
Somewhere along the line though it turned from being my favorite ammo to use to my least favorite ammo to use. 2-3 years ago it seemed that I couldn't find reliable Federal ammo to save my life. 3 AR15s and an AR10 all suddenly started hating the stuff, from American Eagle all the way up to Federal Gold Medal. Stuff wouldn't stop spitting out it's primers on me, left and right it would do it.
Ofcourse the bolt action shooters don't have to worry about that sort of thing. It seems pretty isolated to the AR15 crowd, something about the action lock time and design because Mini-14 and M1A shooters don't seem to have the same problems. Knights Armament even states that they don't trust Federal Gold Medal, according to the SR25 crowd on Biggerhammer forums atleast.