After the Vietnam War, before the Army and everyone else started their respective sniping schools the Army Marksmanship Unit conducted their School (USAMU Sniper/Counter Sniper Course) with the ideal of providing instructors for Military and Civilian LE Snipers. The Secret Service, FBI, and other Civilian Police Depts as well as Military Units,
For the LE the AMU Put out a guide to assist police departments in getting started.
In this guide, They gave their recommendations for Ammo, Rifles and Optic for Urban Counter Sniping. The Ammo recommended was the 222 (this was before the 223 became popular in the civilian markets). The idea being, that urban sniping was relatively short range. This round, sighted in at 250 yards was capable of head shots to 300 yards.
Not being off topic of the 223 Model 40, that in reality is the top choice of the AMU.
To get accepted in the AMU Sniper Class I had to present a letter for the AK NG that I would be starting a sniper program for the state. At the time I was also a member of the Anchorage Police Dept and also presented a letter from the Dept that I would also be starting a Sniper Program for the APD.
In choosing the rifle for my LE duties (and to sell the idea to APD) I chose the AMUs top choices, The Remington 700 BDL Varmint, (in 223) and the Redfield 3-9 Widefield, which proved quite satisfactory.
I carried that rifle the rest of my career and still have it today. I retired in '94 so it now serves as a varmint rifle. Still shoots great.
Though not really a M-40, it certainly would classify as a forerunner to the 223 Version of the M40, just prettier.