This was my first event ever, and my thoughts are that in this type of competition, yes, equipment is important, but not the deciding factor. Both knowing your gun/ammo "well", and then learning to shoot "your setup" from uncommon positions, from weak hand/side, and under time pressure was far more important that theoretical group size capabilities.
I would break it down to:
Phase 1: no time limit
- Find the consistent/accurate ammo your rifle likes.
- Really learn your setup over 25-200 yards - create your dope chart(s)
- Practice as many of the various positions as possible (given the course of fire shared above)
- Practice as many of these positions weak hand/weak side
- Practice alternating distances - without touching the dials (focus only) - learn to use your reticule
Phase 2: start timing yourself
- Repeat above but start with a generous time limit 3-5min
- Gradually lower that time limit to force you to shoot faster and still hit most everything
- Eventually practice at the 1:30 limit (or 1min) per the course of fire
For me, I like the idea of just sticking to Phase 1, and only the "fun" stages, and never go to Phase 2. Just mix it up a little and have fun