The race barrel is very accurate and yes it does need new grips. Spec wise it is a stock 05 Racegun Products Halfblock(retail are $1395 new). U can find more info on here :
http://www.racegun.us/
It is stock but it shoots fast and accurate.What else do u need?
Here is a vid i found of 1 shooting 16bps on classic mode:
http://chfilippi.free.fr/hb_classic.wmv