I can't imagine competing at 400m and 500m at Connaught with 55s. Just had a quick look at the tables in the Sierra manual. With a 10mph wind at 90 degrees, 500y drift with a 55gr BTHP is 55 inches, with the 69gr SMK, 34 inches. Muzzle velocities of 3200 and 2800 respectively. There are enough things to deal with without fighting that much more drift. I do agree that effective position shooting is critical. A person can play all the equipment games he wants, but he can't buy success.
Incidentally, I bought some Prvi Partizan 75gr HPBT bullets to try. Price was right, much less than Hornady/Sierra/Nosler match bullets, closer to bulk 55s. Found that they shoot well enough for practice, but not for competition.