Chris you seem pretty knowledge able.
You're being far too kind. I actually don't own an AR-10 at present (I've had two through my shop in the past month, but that doesn't count.) I've been doing a great deal of research, with the intention of buying one as a major-caliber 3-gun rifle. All my comments are products of that research.
It does have a 4 in 1 syndrom. The first round is typically about 1 inch or more high the rest usually group around .5 inch.
This is interesting. 4/1 groups are caused by something changing in the rifle action between the first and second shots. Have you tried shooting a group by loading single rounds in the magazine?
A couple of other things I would look at - how's the torque on your barrel nut? What is your headspace? What kind of ammo are you using?
Based on my experience with Kreiger-barreled highpower ARs, an AR-10 with a properly installed and headspaced Kreiger barrel should have no trouble at all making consistent 0.5MOA groups from a machine rest.
One other place for AR-10 barrels -
www.ar15barrels.com This guy does custom AR-10 barrels on Douglas XX, Shilen, or other blanks, headspaced to your bolt. I've never used him, but I've heard enough good things about his work that I probably will for my next AR.
The carbon barrels are more an affection than anything else - if I had a spare $650 to spend, I'd have to get one installed just to try it out (an AR-10 that makes scout weight has long been a fantasy of mine.)
For optics, you are choosing between two of the best long-range telescopes made today. I got to try out a friends Nightforce a while back, and I quite fell in love with it. It has more internal elevation than the Leupold and I think that it is more solidly constructed. But the Leupold Mk4 is pretty well the standard by which sniping scopes are judged. Advising you as to one or the other would be kind of like advising you to choose between the BMW M5 and the Audi RS6. Drive 'em yourself and buy the one you like the best.
For precision shooting, the stock I prefer is the old A1 stock (or the new Cav Arms equivelent) with an A2 buttplate. I sometimes use a cheekpad made of stick-on closed cell foam to get the proper cheek weld.
Hope this helps some.
- Chris