I obtained a large quantity of M80 at great prices awhile back, mainly for plinking and days when I didn't feel like loading ammo. It's good to have on hand, and that's not a bad price.
In my 20" match barrel, (Mega Arms branded, 1:10 twist, rifle length gas system), at 100 and 200 yards the M80 will hold 1 MOA-ish groups. This is from the prone, out of a Mega MATEN, with all the fancy upgrades like Geissele trigger and whatnot.
I previously had a 16" DPMS AP4 barrel, and the accuracy of the M80 in that barrel was atrocious at 200 yards, groups were upwards of 8" in size at 200 yards.
Unfortunately, I don't have any better data than that to share right now.
From what I've read, the LC brass is of comparable quality to the LC LR brass used in M118LR. I have quantities of both brass, and I do the same prep on each batch. Swage the crimp out if present, square the primer pocket, anneal, trim, tumble, and it's ready to size and load.
As for the cost-benefit analysis, check the For Sale section here, see what price you can get brass for. Your total cost for hand loaded ammo will likely come in somewhat lower than M80, but you have to factor in your time and effort.