the blue box is factory reloads using lake city brass. the accuracy of it should be acceptable. some rifles shoot it fairly well, some only so-so. overall, the accuracy is not spectacular.
in the 223, i know they have nosler ballistic tips available...i think there are other styles available, but not sure...i don't think the blue box is available w/ moly, but am not positive on that.
when i use factory loads for the 223, which is pretty rare, i usually use black hills red box stuff. the red box ammo is all new, and the brass is labeled 'bha - match'. in my 223, this brass is very good...runout is minimal and consistency is great; i use these loads because i want the brass, really no other reason, although the accuracy is generally very good. the stuff i buy is loaded w/ 52 grain match bullets (probably sierra matchkings, but not sure).
the ammo should be fine in an ar, though all my 22's are bolts, so i have no experience, there.
if you reload, i'd advise spending the extra money on the red box so you'll have some real nice brass to load later. if you don't load your own, the blue box should be able to cover most of your uses if the accuracy is ok in your rifle. i think the blue boxes are loaded with mixed lots of lc brass...mixing lots of brass is generally not the best way to achieve best accuracy.