Many folks believe the 155 gr Palma bullet is the answer to long range shooting with the .308 Winchester. If you intend to shoot in a sanctioned Palma competition the 155 gr bullet or lighter is mandated. The 155 shoots well in 1:12 rifling, and the slow twist means that the bullet can get higher velocity with less gyroscopic induced drift down range then would be the case with the same bullet in a barrel with a faster twist. The 155 stays supersonic to 1140 yards with a MV of 2900 fps.
I prefer heavy for caliber bullets, and my target rifle has a 1:8 twist. I am getting 2500 fps with 200 gr bullets, and I am anxious to experiment with 220 and 240 gr bullets as well. My logic is that a heavy bullet is less susceptible to wind, and although the MV is lower, the heavier bullet gives up velocity at a lower rate. A 155 gr bullet goes subsonic at 1140 yards while the 200 gr bullets remains supersonic to 1165. Big deal you say - well at 1000 yards the 155 drops 335" while the 200 gr drops 278", a difference of 57" or nearly 6 minutes of elevation. This does not make the 200 gr bullet more accurate, just easier to shoot accurately.