The Omega is a time tested rifle. It was one of the leading rifles for years and caused a lot of copy cat type rifles to be introduced into the market by other companies. The Omega still is a great rifle even with the introduction of the Triumph. While the Triumph was developed to solve all the short comings of the Omega such as the small trigger guard, and the new 45º twist and turn breech plug, I do not think it would make any difference on the shooting range.

As for what kind of range you can expect.. what kind of optics are you going to use, what kind of load do you shoot, and how good a shooter are you? Also are you willing to put in the practice time on the range at long distances to learn the rifle. 200 yards is not out of the question. 150 yards with good scopes are more believable.