I shoot both various 7.62 nato fmj ammo and 308 hunting ammo, and the 308 hunting ammo is far superior. I stick to the 150 grain 308 and no problems so far, and much better accuracy. A good starting point is Federal blue box 150 grain. Hopefully you can find it for around a buck a shot. Save the brass.
I've shot IVI, some overseas nato ammo and some purple boxed corrosive primer 7.62 and it produces groups at least twice the size of what I get with even the cheap 308 hunting ammo.
I have to get out and buy some Sierra 168 grain match bullets and 4895 powder and give that a try. I have a whole pile of prepped brass, ready to fill ( the easy part of reloading).
From what I read .308 Win (hunting ammo) is not interchangeable with 7.62 NATO in that dimensionally the case is the same but it has different pressures and the .308 Win bullet is seated differently (due to different throat dimensions). As a result the increased pressure of the .308 Win causes some sort of bolt shortening in the Norc M14?? Just what I read.
If someone that knows what they are talking about can tell me that regular .308 Win is safe in the Norc then I'll be very happy to use it.