There are 2 (three actually but 2 of them are the same for our purposes) Remington Core-Lokt loadings in .308. The 150gr loading has a muzzle velocity of 2820fps both of the 180gr loadings have a muzzle velocity of 2620fps from the same length bbl.
I'm guessing that those numbers are for a 22" bbl. A decent rule of thumb for .308 is to figure that you'll lose about 50fps for each inch of barrel you remove. So your 16.5" barrel will probably still give you around 2645fps with the 150gr loading and maybe 2445fps with the 180gr load.
Either one is still a step up from a typical .30-30 loading which, out of a standard length bbl, would give you around 2390fps with a 150gr loading and around 2200fps with a 170gr loading
I am getting 2650 fps with the factory .308 win remington 150 grain corelocts out of a 16" barrel in my encore pistol. Muzzle blast is pretty fierce though..
This dosnt mean much, since all guns are differant, but my granddaughter did a science project using a M-700 in 308 cutting the barrel 2 in at a time from 26 to 16 inches. She used 180 Grn Corlokts.
Here is what she came up with, it should give you an ideal.
The Reason I was asking is that I use a Ruger M77 Frontier Rifle, and was wondering what the velocity was with the cartridges that I am using.
The short Barreled carbine, has fierce muzzle blast, but is accurate.