getting ready to start reloading this calibre and VV has the best range of powders available in the current market and I've had good results with it in other cartridges. In perusing load data 130 seems to be the favourite of most sources except speer which recommends 120. Kind of strange in that the other manuals seem to agree on 110 for 130/135 bullet weights then jump to 130 for all weights of 140 and up to 155.
Rick

correction - 40 gr. bullet

I can't help with the VV powders as I have not used them in those numbers.

I shoot a couple of different .221 rifles and have and excellent luck and high velocities from AA 2200 and AA 1680, with AA 1680 surprisingly getting the slight edge. I shoot nothing but 40 grain bullets in my .221's.

if you have reloader 7 it is a top powder for the 221.

N130 is to slow even for 55gr bullets!

N110 and N120 is the powder.

I wish I had time try some of the VV powders, 17.5 grains of H4198 with a 40 gr VMax in the Lapua brass has produced excellent accuracy in my Cooper 38 Classic. .155 was my best group of 3