I've got some Armscor in .22 mag, and it shoots just fine. Decent accuracy, and goes bang every time... I have not run it over my chronograph to be able to quote speeds. I believe it's manufactured in the Phillipines, and has a decent reputation...
If you are talking about .22lr, I can't speak to how Armscor stacks up. I can tell you that Blazer .22lr shoots very well in my .22s, and it's pretty low cost... The Blazer is less money than the bulk Federal, and for me, shoots better. Wolf .22lr is more expensive (not too bad...), but really shoots well in all of my .22s. .22 lrs are usually pretty picky with what ammo they like, but all of mine seem to like the Wolf just fine... For a lot less money, it shoots about as well as Eley Tenex and Eley Match. The Wolf "Match" is about as good as the Wolf "Match Extra.". The Extra may be a bit more consistent, but not by much.
I've gotten to the point where spending a bit more on the Wolf is worth having the excellent accuracy, it's just more interesting/fun to shoot that way. Again, the Blazer is pretty decent (and cheap), and in some guns, it's actually very accurate.
Hope this helps...
