I have its virtual replica, except mine has a 1.5x4 Burris. It was my first contender purchased in '85, and had been my primary deer gun until very recently. I use the following load to produce a little over MOA groups (my eyes aren't what they used to be, a more powerful scope would probably help).
125 Nosler Ballistic Tips
Winchester Brass, weight sorted, primer pocket deburred, etc
38 grains 748
Federal LR primers
Bullets just off the lands, and I bump the shoulder. (I know, it HS on the rim, but the shoulder becomes a problem after a few firings)
BTW, I just purchased a factory 223 barrel, put it on a Denzel Roberts grip and forend and a bower rest with a 3x9 burris and get .6 averages, with a few really tiny. No group over 1 inch out of 20 groups, and that's before I have done any real dialing.