Like ssyoumans says, Seafire is a big proponent of Blue DOt.
I read his stuff and met him in Oregon and went ground squirrel hunting with him in 2003.
I took 1,000 rounds of 3 cent surplus 60 gr TAP bullets loaded with 13 gr Blue Dot.
2563 fps measured by chronograph 24" barrel
[Quickload predicts 2573 fps, 36,521 psi]
That load, as wimpy as it is, will cut a ground squirrel in half, and is way flatter and long range than a 17HMR.
Since then I bought many 35 gr Vmax bullets that were blems because the weigh 33 gr. I paid 7.7 cents each.
These I load with 15 gr Blue Dot.
3486 fps measured by chronograph 24"
[Quickload predicts 3406 fps 34,577 psi
I have shot thousands of these and killed thousand of ground squirrels and many prairie dogs.
They will shoot a .46" 5 shot group at 100 yards.
They are very flat to 180 yards, but need elevation at 230 yards [ballistics of a ping pong ball]
CAUTION: The following post includes loading data beyond currently published maximums for this cartridge. USE AT YOUR OWN RISK. Neither the writer, The High Road, nor the staff of THR assume any liability for any damage or injury resulting from use of this information.
Don't do this...
I have experimented, this is no way practical, with 18 gr Blue Dot 33 gr Vmax.
Half of the shots show no pressure sign and are 4100 fps 26" barrel.
Half of the shots show bad pressure sign and are 4200 fps 26" barrel.
Quickload may think that is 60kpsi 3940 fps, but the brass can look more like 100kpsi.
I have done that in a couple AR15s and a couple Ruger #1s.
That could be dangerous in a Rem700. Don't do it.
Seafire got the Blue Dot load idea from the James Calhoon website:
http://www.jamescalhoon.com/
I have met and shot with James Calhoon [Jim Leahy and his wife Cathy].
Jim does not have internet access, you must contact him by phone.
What does it all mean?
Blue Dot 223:
Pros:
Keeps the barrel cool
Keeps the barrel clean
Cost less
Makes less noise
Accurate
Turns a 223 into a 218 Bee, which is more appropriate for ground squirrels.
Cons:
Not as high velocity as rifle powders
Peaky erratic pressures with hot loads
Most powders work well way over 55kpsi in 223, Blue Dot should be used below 55 kpsi
Does not fill the case
Flakes can get stuck in powder measures
Need to check every case for fill ratio, in case powder measure made a little charge and then a big charge.
Should only be done by advanced handloaders.