I can usually keep a three shot group under 3 inches at 100 yds with a cold barrel. But that's not necessarily the rifle's fault. Perhaps the load could be better, and certainly the shooter could be better. The rifle is fairly light with a slim barrel and I didn't expect bench rest accuracy. I bought it because I love the history and nostalgic charm of the .303 british cartridge. Plus I got tired of my #4 SMLE eating brass.
As for loads, the only bullet I've tried so far is a 150 grain sierra. I'm not sure how the rifle is throated, and it might do better if the 150 grain were seated further out or if a heavier bullet were used (The rifle might have a long throat to accomodate longer and heavier military bullets). Or I might need to try a little faster powder (4895 instead of H414).
In any case I love the rifle and it always evokes thoughts of kenya and Robert Ruark. So go get your .303! If I had wanted a tack driver, I probably would have started with a #1V in 6.5 Creedmore instead. Although on reflection, I'm thinking that the creedmore would also fill a nice spot in my collection.