Sorry if I took a while to get back to your post.
As for my grouping, I have not really discovered an average. My rifle is still pretty new, not even a year old. That coupled with the fact I don't shoot it as much as I do my other guns, it is hard to say for sure. But most of the time it stays around 1" at 100 yds. with the load I currently use. I don't know if that is quite the accuracy you're looking for, but I think that is doing okay so far. If I can fiddle around with it a little more, maybe I could find a way to make it more consistant. Remember too that 40gr. bullets are on the light side, and I feel the wind does play games when I launch those bullets.
My current load with AA1680 is 12.1gr. behind a 40gr. Nosler BT. I have not chronographed it either, so I'm in the dark on that one.
I'm curious to hear how you do with the Li'l Gun powder, as I have seen that is a big favorite of many Hornet shooters. I'm hoping to try it sometime, but I still have quite a bit of powder leftover I need to use up first.
If you have anymore questions, feel free to ask.

-Patriot