I owned one for some three years now. Its a pretty accurate gun, but I never put it through its paces, so to speak.
With the correct ammunition, mine will shoot 1/2" groups at 50yd. For my rifle it liked:

SK Pistol Match (420114) the most consistent
Federal Ultra Match (UM22)
CCI Standard Velocity (0032)

Now, the bad part about that bone-stock MKII FV-SR, in my experience has been:

The stock sucks. There's no cheek weld for me. Its either crane my neck to the point where shooting 75rd became physically painful, or fix the low comb. I had enough and bought a Boyds AT One when they had their sale last week.
The parkerized finish is, well.. kinda cheap. I've had surface rust on it by the time I got home from the range in the summer humidity around here.
The extractor spring may take some tweaking. I shoot mine suppressed and the blowback and filth that gets into the chamber made extraction impossible. I used this guy's site to diagnose and correct my issue.

For the $240 I paid from the LGS, I'm happy. Its about as accurate as my CZ455, but the CZ is a much nicer gun (and the pricetag reflects this). They shoot about the same, with the proper ammo.