The old BLR rifle with the steel receiver, before they switched to alloy, is a great rifle and the .222 is a great cartridge.
The combination is in huge demand here in Western Australia for lever action target competition and we have a gunsmith here who does a roaring trade converting other BLRs like 223 etc to this combo.
As has already been stated the .222 is an excellent varmint cartridge and has one of the worlds best reputations for accuracy.
I just sold one due to the fact that I didn't have a use for a long range varmint rifle and mine would shoot MOA or better all day long with factory or hand loads.
As a hunting round for deer and hogs it would not be ideal but no hog or deer will walk away from a clean head shot with one if you need to harvest meat.
Back in my grandfathers day a tool that did its job well was a tool to be cherished. If you don't need that particular tool, I'm sure somebody else will need it and cherish it.

__________________
Bob

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Hard work made me what I am today,
Broken and broke.