Re: POF 308 16" bbl
If it shoots anything like my 20" POF...you'll be VERY pleased. So far, mine is easily sub-MOA with 168gr Match factory offerings and my reloads. Still haven't had time to play with much in the way of 175gr loads, but with a 1:10 twist 5R barrel, I think it will run the heavier stuff well too!
As for the scope setup...whatever gets the job done. If you are going to shoot with the stock extended out to 14" (give or take), I'd think you would want the eyepiece somewhere about even with the charging handle for most applications.