Today's Internet "all day long" guys would call a group like that typical of what their gun was capable of "all day long" even if that was the only small group they ever fired.
I've discovered a few things over the years as far as measuring group sizes. Measure the bullet hole diameter in the paper. It will almost always be smaller than than actual bullet diameter regardless of the type of paper. As I recall, .308" diameter bullet holes measured noticeably under .308", so subtracting .308" from your measurement isn't an accurate way of assessing group size even if it's commonly done that way. Your group size will actually be larger than what you record.
Don't use a dial caliper for measuring group sizes. A caliper is only useful in benchrest or similar competition where three or so persons measure with a caliper and then average, because measurements with a caliper are seldom repeatable.
I find it's best to use a ruler with two scales, 1/10" and 1/20". Either is very repeatable and few have a need for any measurements finer than that. It doesn't help boasting privileges, but you'll get a more realistic report of group size. Perhaps the best way to measure group size is to measure across the entire group and subtract nothing.
Not to denigrate the original poster's group size in any way as that's a good group. To be most meaningful, the two groups before that one as well as the two groups that followed provide the best picture of a load's accuracy potential, but few of us go to such trouble.
All this is hair splitting, true, but that's what good groups are about.
