The fireball is an easy cartridge to load for. You can get around 2600-2700 fps from a 10" barrel and 50 gr bullets and quite a bit more with lighter ones. In a carbine length barrell it doesn't really give up all that much to the .223 and powder charges are low. It's a very strong case with good case life, and cases are readily available in bulk from Midway. Go for it!
RonF