The Sound of Kalashnikov

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Ammunition

The 7.62x39mm, also know as the M1934, round is an intermediate round designed to fill the gap between a pitol round and a full rifle load.
Comparison of calibers

Above, is the 7.62x39mm round (center) compared to a 9x19mm pistol round (left) and a 30-06 rifle cartridge (right). Notice the intermediate size of the 7.62x39mm. This provides a rifle cartridge capable of delivering an effective range in excess of  pistol rounds from a submachine gun and well below the one thousand meters possible with the 30-06. Consequently, recoil energy falls between the two.
FMJ versus HP

This is a comparison beween the full metal jacket round and the hollow point. Notice that the hole of the HP results in a flattened out tip. While I have not experienced any problems using HP ammunition in an SAR-1, I have seen discussions questioning the ability for the flat-tipped round to reliably chamber into Kalashnikov rifles. Many states disallow the use of FMJ ammunition for hunting purposes. The alternative is to use a soft point (not pictured) or hollow point round. However, be warned that while the round may be a HP, many HP ammunition of this caliber is converted FMJ military surplus. The result is an FMJ round with a hole drilled into the tip which can contribute into a lengthy penetration into the target medium.
Steel casing comparison
There are two common kinds of casing materials--steel and brass. Traditionally, brass casings are useful for reloading due to its resistance to deformation, However, this comes at a tradeoff in cost. The top round shows a steel cartridge. Notice that the casing is painted to protect from rust. Despite this, expect the paint to peal off and rust on several steel casings. It should be noted that foreign ammunition (tpically using steel casings) also employ a steel bi-metal jacket. I have experienced some indoor gun ranges that prohibits the use of the bi-metal bullets; resulting in the need to purchase the significantly more expensive brass ammunition.
Realistically, reloading 7.62x39mm rounds is not recommended due to the plethora of ammunition. Additionally, the violent ejection of the spent shell casing results in the denting of even the brass casing.
Ammo comparison
Above is a side by side compatison of the Uly military surplus ammunition, the venerable Wolf ammunition, and Barnaul hollow point cartridges. The Uly surplus burns surprising clean resulting in a easier cleaning of the rifle. Wolf is the most common brand of this caliber in the United States.