I have shot several pounds of CFE223 with 120-123 grain bullets. When Hornady was selling 123 grain A-Max ammo my load duplicated the factory load. I used 31.0 grains CFE223 with CCI450 in Hornady cases with either 123 grain Nosler CC or 123 grain A-Max. The profile of the 123 grain Nosler Custom Competition is similar to the Hornady 123 grain BTHP which is similar to the 123 grain FMJ.
My 31.0 grain CFE223 load with 123 grain A-Max gave the following results on a 70 degree day with a magnetto speed chronograph.
16 J&T Dist. CLGS 2449 FPS
18 Liberty MLGS. 2471 FPS
20 Shilen RLGS. 2526 FPS
24 AA Shaw RLGS 2619
My 31.0 grain CFE223 load with 123 grain A-Max gave the following results on a 70 degree day with a magnetto speed chronograph.
16 J&T Dist. CLGS 2449 FPS
18 Liberty MLGS. 2471 FPS
20 Shilen RLGS. 2526 FPS
24 AA Shaw RLGS 2619