Standard Deviation is a very useful number for quantifying velocity uniformity. Using ES, you're only using 2 of the shots in the group to quantify the variability of velocities. However, SD uses all the information available.
Here's an example of how to use SD to estimate velocity spread. Using 'Confidence Intervals', you can make predictions such as the following:
Let's say that a particular load has an average speed of 3000 fps, and an SD of is 10 fps.
1. You can say with 67% confidence that a future shot will be within +/- 1 SD of the average, in other words, between 2990 fps and 3010 fps.
2. You can say with 95% confidence that a future shot will be within +/- 2 SD of the average, in other words, between 2980 fps and 3020 fps. This 95% measure, the +/- 2 SD case, is the most commonly used for shooting since 95% is 19/20 shots.
3. you can say with 99% confidence that a future shot will be within +/- 3 SD of the average, in other words, between 2970 fps and 3030 fps.
Combined with a ballistics program, the above information can be used to predict how much vertical dispersion,due to velocity variation) can be expected with a particular load. For example, if the above example was for a Palma rifle shooting 155 grain bullets at 1000 yards, having a SD of 10 fps means that each shot has a 95% chance of being between 2980 and 3020 fps. This is roughly +/- 5" of vertical, which is 'X-ring' elevation,the X ring is 10" in diameter). Hence the common rule of thumb that an SD of 10 fps is the goal for LR shooting.
The above calculations cannot be done with ES alone. ES is not repeatable group to group, where SD is more repeatable. Furthermore, the previous post that said the SD of 2000 fps and 4000 fps shots was zero is incorrect. The SD of such a velocity set is 1054 fps.
ES is a good number to get the 'gist' of a loads potential. It represents something easy to understand, and should not be discarded. However, SD has it's place in shooting as well. It's not as obvious what it is, physically; and it's harder to calculate, but it allows you to make some pretty useful predictions.
-Bryan