As Rick said this was the original PPC! It is indeed still VERY competetive. I still play with a 22 PPC from time to time myself. I plan to make a .100 short 22 ppc for the matches next year. Some feel that the capacity of the 22 ppc is about ideal .100 shorter than the original. I shot a straight .220 Russian for a number of years (after watching George Kelbly do well with it on a bench next to me in the early 90's).
The Russian .220 has been picked up as well by a number of top shooters south of the border, though most guys have changed the shoulder angle a bit to alliviate some of the bolt thrust issues that come with a case that has so much taper. The 22 ppc doesn't have these issues its really a dream to shoot.
Your gun will move much less in the bags allowing for faster shot to shot recovery. Welcome aboard !
Your eyes are about to be opened up as to what real rifle accuracy is all about! Caution this will spoil you!!