I too would rather have the Q3131A than the 55 gr Nosler load. At least the Q3131A load will give you adequate penetration, something the Nosler isn't very good at.
If you are looking for something that might be a bit better than the M193 spec loads without sacrificing necessary penetration, you might take a look at the Black Hills 68 gr OTM. The Federal Gold Medal and Black Hills 69 gr OTM are also good loads but I prefer them slightly less to the 68 gr version. However I would choose whichever was most accurate in your weapon. You might also test out the Hornady or Black Hills (same bullet) 75 gr OTM. While some folks have trouble getting the 75 gr bullet to stabilize in 1/9 twist barrels, some have good success. IMHO they are a bit better than the previously mentioned loads and would be worth trying. If they are accurate then this would be the load I would go with. These are the best anti-personnel rounds for .223 chambered weapons.
Should you also be interested in engaging targets in vehicles, the best choice might be the Federal 62 gr tactical load that uses the Trophy Bonded Bear Claw bullet. For penetration of vehicles, windshield glass, etc, this is about the creme of the crop. Being it is a bonded bullet it expands really well, yet it holds together and penetrates deep. If you are concerned about overpenetration though, this might not be the best load to choose. But if you need good penetration with .223 to get through barriers, this is the load you want. The 55 gr version also works well (the only 55 gr SP I have seen that offers adequate penetration I might add).
Another good load is the Winchester Supreme Power Point Plus that uses the 64 gr SP bullet. I think there is also an LEO version that doesn't use the lubalox (or moly?) type coating. It offers good terminal performance but lacks the penetrating qualities of the TBBC bullets mentioned above. If you choose this load, be sure whatever version you get has the cannelure for best feeding results in an AR-15 type weapon.
Oh, BTW, for Black Hills ammo, go here:
[url]www.georgiaprecision.com[/url]
-Charging Handle