Thanks for the information guys.
I had forgot to mention that this setup will have to be a portable setup. My shooting will be on state land and less occasionally on my uncle's property. So it will have to be able to break down and transport easily (within reason).
Jack, I like the rings welded in the pattern you have described. I'll probably end up with that arrangement. For now though, I think I'm going to use kevin's nylon truck strap and carriage bolt method for a quicker start and so I can find a willing welder. Kevin, I really like your gallery setup. One day... one day... I hope to have something similar. Maybe just a few less targets
As far as the steel. I'll get AR500 since that is what is being sold most places I look.
For 100 yards, should I go with 1/2" or 3/8"? I like the price of that walmart steel. It's 3/8". I see the majority of places selling 3/8". I have no problems paying more for the extra thickness, but there is more variety in targets in 3/8".
At 50 yards, is it okay to shoot 1200fps rimfires at these targets? How about the 17HMR? I do have some FMJ ammo for the 17HMR. I'm thinking that at any distance I should probably avoid the FMJ, correct?
For my setup I'm thinking circle targets 8", 5" and 3". Then a 1 or 1.5" wide rectangle for some fun. Me and my friends like to make bets and shoot at little tiny targets until someone misses. We usually bet little items that we have up for trade. Kinda like a story Jack mentioned in a different thread about shooting for the breakfast tab.