the standard for K22's when they were built was a 1.5" 5 shot group at 50 yards. they are a very accurate revolver.
I also have a 1917 smith in 45acp marked "US property" that is mint.
while we are on the subject....
You can also get both rubber bullets and... speer makes a plastic bullet for 38,44 and 45
I have shot the speers for 44. they have plastic cases and squared of plastic bullets. the bullets can be loaded into the case with finger pressure and the primer can be pressed in with a finger (a nail punches out spent primers).
They will shoot very good groups at 25 feet or so with enough power to punch through a layer of sheetrock. A good backstop is a box with some towels or rags stuffed or hanging in it.
I have not tried the rubber bullets but they require some tools to deprime/reprime.
lazs