Currently on the market you can find Federal/Lake City US 7.62 ammo (overrun from my understanding, not surplus reserves being sold off) here and there. It's usually listed as XM80 (and with extra letters on the end). Of course this is retail ammo at retail prices; not true military surplus. Last I saw some it was $25/20rnds. I've shot a few boxes and it's quite accurate for military ammo; around 1.25-1.5" at 100yds. Better than several discount steel cased imports. It's in a white box with black lettering.
Son'of'a'gun...That stuff has a bimetal jacket surprisingly enough, it is good ammo though.
Son'of'a'gun...
I had one round of this sitting on my desk coincidentally and checked it. Yup, magnets stick. Well colour me surprised.
I thought I remembered doing the magnet check on a box I had a couple years ago and it didn't stick but maybe that was S&B or Prvi. Oh well, now I know (and will hopefully remember).