I see Bart posted while I was composing, so some of this duplicates his information.
I've had the 168's go unstable before hitting targets at either 748 yards at Gunsite (approximately 4500 ft altitude where we were shooting) and at 800 yards on Viale range at Camp Perry (574 ft altitude at the 800 yard line). I assume that's where Bart fired them at 1000 yards, since the Port Clinton airfield has an altimeter zero of 588 feet. Today
this tool makes it easy to find an exact altitude.
I believe the difference is side wind.
The Gunsite shoot was at the old LR1 class where we had permission to fire across a valley at a local rancher's property, as that was longer than any ranges at the school at that time. We had a fairly steady side wind at about 20 mph, with the usual buffetting of momentary turbulent variations of a few mph. Everyone in the classes had PMC match ammo bought through the school that featured the 168 grain SMK. We could hit everything on the valley floor that we were directed to work at in sniper/spotter teams, except that 748 yard popper. I think I and maybe one other person were the only ones to have a shot connect with it, and that was by accident. The rounds from my 24" 10 inch twist Savage 10FP were going left, then right, then up or down. Another student with a European rifle with 300 mm (11.8") twist had the same issue. All correction attempts to correct by hold off our mil-dot sights turned into a bad game of chasing the spotter. If I'd read Jim Owens book on wind doping at that time, I suppose I might have squeezed out a second hit, but it really was unpredictable. Despite the wind being quite steady at our position, we all figured, at the time, that as the shots were firing across the valley to the opposite side, the problem must be gusting changes in wind speed on the way across that we just weren't detecting from our position.
The next year my dad and I took Mid Tompkins' Long Range Firing School, which used to be held at the end of the National Matches before the Iraq war. Marine Scout Sniper volunteers kindly served as our individual firing point coaches. At the first firing session before lunch on day 1 of the school, Mid started the class out at 800 yards. We had a good 10 mph cross-wind that was fairly steady at that time of day, but again with the usual turbulent buffeting. Well, as the sight-in proceeded, there was a lot of loud groaning and cursing up and down the line. It seemed a good 2/3 of the class had come with .30 caliber weapons shooting the 168 grain SMK's and none of us could stay on paper. The pits reported keyholing on the paper that was hit.
Fortunately for us, Kevin Thomas, who then still worked for Sierra, was also shooting in the school that year. He commented that the 168 had been designed as a 300 meter International bullet and that Sierra had been lucky that, as a bonus, it also shot really well at 600 yards, too, but he didn't recommend it beyond that. He said the 175 grain SMK didn't have this problem. So, there we had if from the horse's mouth, so to speak. When the lunch break came, those of use with ammo loaded with the 168's all ran to commercial row and got either Federal or HSM ammo loaded with the 175's to bring back after lunch. Bingo. No more keyholes. My first group on the 800 yard target after sighters was a 99 with a called 9 pulled at 4:30. No more trouble staying in the black, much less on the paper. I've been sold on that bullet ever since.
In his first book, Applied Ballistics for Long Range Shooting, Bryan Litz makes mention of this problem with the 168 grain SMK. He says it is due to a dynamic instability in the transonic range, which is about Mach 0.8-1.25 for that bullet. That translates to about 900-1400 fps at ICAO standard atmospheric conditions. A dynamic instability is one in which disturbances, like buffeting from passing between different velocity zones in air, tend to be over-corrected by the bullet, causing its nose to cone wider than necessary, inviting the overturning and yawing moments to flip it into a spin.
I know both Bart and Hummer70 have fired the 168 successfully at 1000 yards. Hummer70 even did it with a Palma barrel salvaged by setting back and cutting down to 24", so that would have been, I think he said, a 13" twist or a 13½" inch twist. So the problem is not lack of spin. I'd like to know if either of these gentlemen kept notes on wind conditions at the time to very of disprove my theory that its a side wind, or a wind buffeting issue.
The 168 and 175 grain SMK's both have tangent ogives in the vicinity of 7 calibers on the ones I've measured. The main difference is in the boattail angles, which are 13° and 9°, respectively. The combination of a 7 caliber tangent ogive and 9° boattail come from the old military 173 grain M1 bullet design which was done empirically in the post WWI era, IIRC. It's a combination that remains stable through the transonic region and it can be fired a long way. The world record 7.62 sniper shot by Sgt. Jim Gilliland of 1250 m (1367 yards) was made with this bullet.
Anyway, the bottom line is I don't trust the 168 to be stable beyond around and about 700 yards at 24" barrel .308 Win velocities. It obviously can be under some conditions, from Bart's and Hummer70's reports, but I haven't identified those right conditions for certain yet, and won't rely on getting them. So the 175 grain SMK has become my all-around precision bullet for .308 Win and .30-06. I still run the 168's at shorter ranges, though. They seem to be a little easier to get tight groups from at 100 yards.