I have shot a couple of cases. Not the prettiest looking, but it went bang every time. Mine was the loose packed, none of the cases had any major issues. I guess I got lucky, some people have reported some seriously screwed up cases with both the XM855PD and XM193PD ammo.
Being basically military ammo, it's not going to be the most accurate ammo out there, but that's up to the rifle (and the ammo lot) to decide. Generally you should expect no worse than 2 MOA, 1 MOA would be a dream.
I wish it were cheaper, for the price you can get brand new Winchester or American Eagle ammo, either in 55gr or 62gr. Just because you have a 1:7 doesn't mean you have to shoot only 62 gr through it. It can handle 55gr just fine. Again, your rifle will make the decision about what bullet it likes better.