So I went to the range this AM with O-Rings in hand. I am shooting a 284 Shehane, 195gr hybrids going ~2750 fps, 20K off the lands using 51.9gr H4350, 32" barrel. The inside center ID is .350". The standard load is shooting consistent low 3's. I made sure I was centered up on the center ring and shot a 3-shot group to make sure the load is centered as best as I could. Then, I used the velcro pad as a reference and shot with 6 o-rings just in front of the velcro pad, at the tip, behind the velcro pad and approximately 2 sets of o-rings behind the velcro. Then, I shot another set at the tip (target #5), which has a pulled shot that a shooter next to me timed his AR with a compensator on it, timed perfectly with his shot.
This is by no means conclusive and I will be doing this more and more to see if the pattern is consistent. It does appear that in various positions, the o-rings are changing the group sizes. The one at the tip and behind the velcro pad appears to show a shrinking of the groups and a slight POI shift to the 6 o'clock position. The other positions seems like it started to vertically string the shots.
Again, I will have to do this again to see if this can be repeated.
Just another data point in this whole conversation...