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I bought one of these a few weeks ago as well and I've been happy with it so far. I shot a mix of Winchester xpert, Remington golden bullet, Federal Lightning, and cci green tag for a total of a couple hundred rounds--all of it functioned flawlessly. I had better luck with grouping than you did-- I put a 4x scope on it and using a front rest I could get 1" groups at 50 yards with the green tag and 2-3" groups with everything else.

Most accurate of course was the green tag. The golden bullet and Federal were about even. My worst groups were with the win xpert.

I did clean and lube it, used a dremel to polish the trigger parts and feed ramp, and took one little bur off of the sear before heading out to the range. The trigger isn't great, but it seems on a par with a stock m4 trigger.