Quoted: Trying to make a compact pack rifle for small game hunting.
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Ah, good. Now we're getting somewhere.
You mentioned using iron sights. Since you want that, and a "compact pack rifle," forget that bull barrel. If you work at it a little, you can get the factory barrel shooting as well as you can shoot with irons--at least from field hunting positions. Test several different kinds of ammo, then find the best three and test those with and without the barrel band, and with and without the barrel floated. I was able to cut my 10/22 group sizes nearly in half by doing this.
The beauty of the 10/22 is that you can have both guns--your heavy barrel in a regular stock, with a scope, for bench shooting or target, and 30 minutes (or less) later you can have your iron-sighted, folding-stocked lightweight.
If what I'm saying makes sense, let me know and I'll give you more details.