Arch, since you are our "Resident expert", and I mean that in the most flattering way, here is what I've got. WHAT (how good)have I got?
The receiver is marked
L1A1 sporter cal .308
Receiver made by IMBEL Brazil
Importede by CAI St. Alb UT.

I got rid of that stupid thubhole stock and put on the "regular" pistol grip and buttstock. I have also added the FN flash hider and a B Square scope mount rail. It has the regular post and wings front mount and a flip up rear mount.

If I remember correctly I paid $395 for it about 15 years ago. Is it worth having and do you think I got took? It shoots ok, but as you have said is not sniper accurate, but for a battle rifle I think it does ok. Now it can't hold a candle to my AR15A3 but then I don't expect it to.