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If they were designed to float I think they would promote it as such. I have a gen 1 mrod and the barrel is easily knocked off target. I don't know about the latest versions.
The shroud should be floating in the middle of the barrel band. I have several Gen II's and have no issues with POI shift from picking up the guns by the shroud. YMMV though.
They are suppose to float in the center of the barrel band. I de-floated my two. One with a Hill barrel band and the other with a lubed o-ring between the shroud and the band. I like mine de-floated, but the shroud can still move ever so slightly if it needs to without POI shift. It is really just a matter of preference.
I have the Hill band on my .25 Synrod and I would say that its 'dampened, not held rigid. What seems to be happening is between the o-ring in the band and the o-ring on the barrel there is some movement but it does not get banged around and change POI like it did with the stock gaped barrel band. Free floating works best but when your rifle changes point of impact just because you put it in the rifle rack at the range to go down and change targets, some compromise is needed and acceptable.
My .22 Gen 1 has a band-it's a tack driver and shoots to the same poi between fills. My .25 Gen 1 doesn't have a band and it shoots well also-could be the Green Mountain .25 barrels are a little more rigid.