One pretty hot varminter load on a .223 with a 52 gr Sierra bullet is about 20 grains of IMR 4198. Compare that to the .308 Win pushing a 110 gr Hornady with 38 grains of the same powder (also a hot load). About 3,000 fps. I use the 165 gr BT match bullets in .308 mostly though, and powder's correspondingly less.
I'll acknowledge that it's a fast bullet, but lightweight. I don't care for it. . . would prefer .25'06 for varminting myself, but it does tend to eat barrels.
Of course, reloaders are the most opinionated people on earth . . . ;-)