Drake, FWIW I own a SOCOM 16. I've hunted big game with everything from a modern lightweight sub-MOA optic sighted bolt gun to a traditional muzzleloader and everything in between...heck I've even hunted with a shotgun using slugs. I haven't hunted with the SOCOM...but I would with certain restrictions/limitations placed upon myself.
The last few years I've religated to hunting the way my grandfather did with an open-sighted, 9 pound, 50-70 Sharps using black powder cartridges. I'm enjoying hunting with it so much that I've settled on the fact that I'll never go back to modern bolt guns again and am planning on hunting moose in Canada and bison on the plains with it.
Is it heavy - yes, is it bulky -yes, do I get exhausted packing it up/down the Cascades-yes ..but I've developed the mindset, skills, and approprate determination that is how I want to hunt and recognize I have some limitations compaired to someone hunting with an optic topped, flat shooting, 1000 yard bolt gun. I have and will continue to pass up nice animals because of the rifle/cartridge and my limitations.
None of what I just stated matters one hoot other than you can pretty much hunt with anything you want AS LONG as you understanding your capablity and competency as a hunter and you understand the capability of the tool you've chosen to hunt with ...and you live and operate within those self-imposed limitations.
The SOCOM 16 is a mighty fine rifle within the framework of what it is designed for. It will harvest most big game at distances up to 150 to 200 yards if you train and practice with it. It is not a sub MOA rifle so don't ask it to do that tasking. Compared to dedicated modern "hunting" rifles it not as lightweight, packable, or as accurate. The sights are not what I would call ideal but they will work. They are designed for the rigors of combat. You can go to the range and develop a MPBR for the SOCOM that will work for hunting the game you want to harvest. It all depends upon what you want to do and what you're willing to live with and if you're willing to put in the homework and trigger time to be prepared.
Modern flat shooting optic sighted guns cover a multitude of sins...they seem to level the field for those who chose not to train or practice until a week before hunting season...you can't do that with the SOCOM. You're going to need to spend some time at the range getting really dialed in. A bolt gun will allow you to shoot just about any reasonable load and bullet combo...the SOCOM is going to be much more limiting.
For serious target work I would look to something else...perhaps as previously recommended... to the target/match grade M1A's that are built and designed for target work because you will be disappointed in the SOCOM for target work.
If you're wanting to drop some serious coin on one rifle that will do both tasks then the SOCOM is probably not the best choice.