It's a bit "hot" compared to the 180gr heavy ball surplus ammo, in terms of velocity.
At 100 yards I was finding it hit about 4-6" higher, on average, than the heavy ball in my SVT-40, 91/30, and M44.
This means it also shoots flatter. On the graduated sights on my SVT, once I adjusted the front post for the Bulgarian at 100 yards, I would leave the rear tangent sight at 100 and the point of impact was within an inch or so at 200 yards. At 300 yards, I would set the rear sight to 200 yards and be pretty close, at 400 yards I would set the rear sight to 300, and it would be hitting a bit high. Haven't done much any shooting past 400 yards with my Reds, so can't comment past that distance.
As far as I could tell, the arc of the projectile was apexing at somewhere between the 100 and 200 yard mark, which is why zero held mostly true for both ranges.
Compared to the 180gr heavy ball, you'll find group sizes roughly the same at 100 yards and even 200 yards, but will open up a bit at 300 and 400, compared to the heavy ball. But, with my SVT, I could hit an IPSC torso target with 9 out of 10 shots at 300 yards with it, so that's still pretty good (especially with my old eyes and iron sights).
Side Note:
It has some interesting terminal effects on impact with objects made of 90% water. The Bulgarian silver tip has a bi-metal jacket, and a two part core. Most of the core (by weight and volume) is the standard soft steel cylinder. But the top roughly 1/3 (lengthwise) of the core is soft lead. This causes the tip to deform on impact - but not like a hollow-point. Instead of mushrooming, it "skews" to one side or another, causing the projectile to spall and corkscrew through the target as it dumps energy.
This wasn't the intent of having lead at the front of the core. Because lead is heavier than mild steel, having the projectile be somewhat front heavy was meant to stabilize it and improve accuracy (think of a badminton shuttlecock, heavy cork/rubber at the front, light feathers at the back). In practice, it made no noticeable difference on accuracy.