243ME,
Like coyotesmoke, when I'm using my .223, I'm using 55grs., and they're usually VMax's.
I use the same bullet and weight in my .22-250. To be honest with you, out of the choices with the polymer tipped bullets, I like the Hornady's because I just get better accuracy with them across the range of calibers I load for. Their accuracy and performance on game has been superb, and in comparison to the Nosler BT's, I've had a little better luck with them overall.....and they're just cheaper to boot.
I've gone the route and tried the Sierra's BK's, and although I've been a lifelong Sierra fan, the only thing I can get decent accuracy with them in, is my 15" .243 Encore. I know this has a lot to do with my particular guns, but, be that as it may, I've leaned heavier on the VMax's of late.
I can't speak for anyone else, but my results have been mostly bang-flops on coyotes and fox using the .223 combo. My velocities have been 3200-3300fps with the 55gr'rs, and exits are rare. Most anything hit within 100yds will get a pass through, except maybe a big coyote, and with the .22-250, that extends out a little bit.
Most of the shots I take are (guessingly) at 200+yds. and at those ranges I've never had a pass through. The closest shot I had at a fox was 50ft., and as luck would have it, I had the .22-250. That outcome wasn't pretty, and a grenade would've been less destructive.
One caliber that will do it all hasn't been invented yet, but I think that the .223 is pretty close to the "one size fits all" when it comes to calibers.
To complete a total answer to your question, the only thing I use the 40gr'rs in is my custom .22 Super Jet, and yes, those are VMax's as well. That cartridge only lacks about 150-200fps from matching the .223 with the same weight bullet, and does it all on about half the powder charge. With a 20" fluted bull barrel, it's a dream to carry in heavy woods, and doesn't destroy coyotes (or fox for that matter) when hunting in thick cover.
Good luck,
Bob