Most of the 204's out there do well with the 32 grainers. The 40 grainers are a hit or miss. I have one that likes the 40's and one that doesn't. Most of the factory rigs out there do very well with the 39 gr sierra BK's (re-loads), and in my opinion are the King for the smaller critters, due to their high BC, frangability, and not to picky when choosing a load. Most of the factory offerings also do very well with the 35 gr bergers (reloads) and are ideal for the bigger critters such as yotes. The varmint grenades are accurate in both of my 204's but once they are gone (10 boxes) I won't use them anymore. They have a lousy BC and at 200 yds the 39 gr BK catches up and royally kicks its butt in trajectory, energy, and wind drift. As far as I'm concerned the 26 VG's are only good up to about 200 yds. After that most of their energy is shed. Under 200 yds explosive action is comparable to the 39 bk's. One nice feature I noticed is that the "felt recoil" is noticeably less as compared to the 39 gr BK's allowing me a nice visual through the scope at increased magnification.
Acurate loads for both of my 204s are 23.3 of H-4198
26.3 of RL-10X and 27.8 of benchmark. Remember to always START BELOW of these listed and slowly work your way up.
Here's a couple of short video clips with one using the 26 gr VG and another with the 39 gr BK on some ground squirrels.
http://predatorhuntcanada.ca/forum/showthread.php?t=676