There isn't a huge drop off in efficiency with a 16 like you would think. The Army's new compact sniper system calls for that length specifically. Long range accuracy is affected, but for most applications it's sufficient.
Knights, Larue and GAP all do a 16 with great effectiveness.
It wasn't so much the barrel but the caliber in relation to that barrel. The -06 is slightly overbore as opposed to the .308. The .308 is a damned efficient cartridge with a case capacity to bore ratio of 751.6. The -06 is 915.4.
Again, not saying it doesn't "work" but really wonder what advantages (if not even disadvantages) there are to an -06 vs a .308 in a barrel that short.