Hmmm.. SGW was the predecessor of Olympic Arms, and owned by a student of P. O. Ackley. I’m surprised it was that bad. I wonder if you had a twist rate/ bullet weight issue going on. That said, I saw a pretty wonkitty early production Olympic with a cast receiver at a gunshow, once. Panic buying caused someone to drag it out and put a high$ price on it.
The front sight base of that rifle looked like it had been buried in a corrosive substance. It was pitted beyond belief. That is why I believe it came from a scrapped or condemned M-16.