OK, I tried it and here's what I got at 500 yards.
The target is a full size steel IPSC target, roughly 18x24 inches. I moved back to 700 yards and the bullet didn't hit the dirt (dry and dusty) with enough authority for me to get an indication of where I was hitting. I gave up on the 700 yard effort with disgust. If I can find a dusty spot totally devoid of grass and other growth, I'll try it again.