I got a Uintah bolt action upper in .224 Valkyrie a couple weeks go.  After zeroing it in at 100 yards and chronographing Hornady 88 grain ELD ammunition, I took out out to 1000 yards.
The bullets are leaving the barrel at 2637 FPS.  Factory specifications are 2675 FPS.  So, I'm happy.
The winds were not over 5 MPH yesterday and sometimes were dead calm.  I started out shooting at some plates with distances varying from 670 to 705 yards.  I was able to hit a 4" X 6" steel plate about 75% of the time when the winds were cooperating and predictable.
When the wind picked up or started varying I could hit the plate about 50% of the time.  There were some plates that were about 10 inches square at those distances and I was able to hit those plates almost everytime!
When the 1000 yard range opened up, I went over there.  We have to shoot across a valley and as such, the winds were difficult to estimate and predict.
The largest plate at 1000 yards was two feet square.  I didn't keep count but I think I was able to hit it about 90% of the time.  There was a 10" X 10" plate that I was able to hit about 50% of the time at that distance as well.
Regarding the 1000 yard range; it was difficult to see the bullets impact with either hits or misses. 
There was another shooter there with a gas gun and I was able to spot and walk him into the 1000 yard target and he was getting a lot more hits that I would have thought possible with that rifle.
The next time I go out to that range I need to take another experienced shooter with me and we need to take turns on the spotting scope.
Back to the bolt gun.  The action takes a little getting use to.  I can't move it as fast as a Remington 700 action but with the accuracy that I'm getting out of it; I won't complain.
Even though there has been some bad press with the cartridge, I don't see any downsides.
I bought 1200 rounds of Hornady 88 grain ELD Match from 
https://www.targetsportsusa.com/
For what I paid for it, the cost as a little less than $1.03 per round.  It would cost me about half that much to reload it.  At that price point, I'm wondering if it worth my time to reload. 
I think I can do better at hitting a one MOA target at 1,000 yards with more practice, research and a good spotter. 
IMHO, I don't think we realize the full potential in this little round.