I shoot .223 and .22-250. For walk around shooting I use the .223 (AR and T3), and for shooting off fixed position I use the .22-250 as its a little flatter and the ranges a typically longer. I agree with Friwi. If your rabbit numbers a low(ish), go bigger in caliber and have the flexibility to hit whatever presents its self. .243 is a good option.
I use the .223 because of cost. I'll reload 1,000 at a time to take rabbit shooting for 3-4 day stays and use it all, then switch over to the 800 rounds of .22-250.
A couple of things to consider from experience:
1. If you are shooting longer ranges, and you want to be able to see the destruction of the bullet impact, think about recoil. With the .223 and smaller size cases the recoil is very low so you will see the hit 99% of the time. With the .22-250 the recoil is just high enough that at times, you will miss the impact as it will be outside of the field of view of your scope.
2. Scope magnification - don't go too high. I personally have a range of scopes up to 20x but usually have them set at around 14x as this is typically the best compromise between field of view for finding the rabbits and being able to see the impact. I personally find the Vortex 4-16 FFP a very good option as the reticle remains calibrated regardless of power setting, and I only have time to undertake holdover, not dial up.
3. Good Bino's are a must for lower light rabbit spotting from a fixed position. If you want small, then I recommend the LEICA ULTRAVID 10X25. If yo are going larger bodied, the choces are better, and based on what I looked through at the recent Sika show, I would be looking at the mid range Leupolds. You can spend way more money, but I struggled to see the value. Better to have a cheaper optic and use the crap out of it an replace it than spend mega bucks and be scared to mark them.
4. HAVE FUN!
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