I just got back from some recreational shooting on my uncle's farm, and was running some Wolf 62 grain fmj .223 ammo through my M4orgery. I shot at a cereal box from about 25 yards away, and when I walked over to see where on the box I hit, I found the remains of several rounds that had passed through the cereal box and smacked into the ground behind it (A small slope used for a backstop).
It appears that they fragmented fairly well, looked almost like hollow points in the way they expanded. The three rounds I found (I didn't try to dig any out of the ground) peeled the copper jacket back, and one of them retained some lead, the other two stripped the jacket off. I must say I was suprised because I had always heard that Wolf didn't fragment because of the thick gilding material. Maybe it was just because the ground was fairly hard as it hasn't rained here recently.
Anyway, I thought I would post some pictures to see what you guys think.

First off, the offending rifle, a Bushy A2 style M4orgery with my signature cheap optic and a little friend


Next up, the three recovered rounds from the back side


And the same three from the front


Like I said, I was surprised to see this from fmj ammo, much less the 62 grain which aint the fastest stuff in the world. In retrospect, I should have fired some 55 grain Wolf and some Lake City M193 for comparison. Well, maybe I will do some more informal testing another time.

Quoted: I shot at a cereal box from about 25 yards away, and when I walked over to see where on the box I hit, I found the remains of several rounds that had passed through the cereal box and smacked into the ground behind it It appears that they fragmented fairly well

There you have it!  Wolf is ideal for Isle 9 of your local supermarket!  w00t!

hehehe, definately qualified as a cereal killer

Well, at least you proved that it'll fragment in "dirt"-bags

ALL ammo breaks up on the dirt.

The old brass-colored Winchester white box 9mm fragments in dirt, too.

Hmmmm, Frag? Looks more like Core/Jacket Seperation to Me.

A new Fackler is born.

Quoted: Hmmmm, Frag? Looks more like Core/Jacket Seperation to Me.

I guess "Fragmentation" is not the appropriate word, because it's not like it yawed and fragmented. I just thought it was interesting the way that the jackets opened up and peeled back (like a hollowpoint) I guess it just wasn't what I expected.  
I have recovered both 9mm and 45 acp ammo from the ground before, most dented, some unhurt. Some of the pistol rounds would shear if they hit a rock or something hard.
It looks like all the Wolf rounds "came apart" when striking the ground. I wouldn't expect the same results from soft tissue, but still found it interesting.