My buddy LOVES his MIII pistol. I like them a lot, but I chose this one, because it fits my hand much better than the Ruger.
Both can be a little finicky about ammo, and the Ruger maybe a little moreso. Before you buy, look at some vids on how to field strip and clean. MIII takes some getting used to....the Browning requires a tool to take it down. I'd recommend you pick them up side by side and make a choice.
Both have mags that are easy to load.
Good for you that you're looking at made in USA.
I don't have any experience with the MIII lite, so I don't know what to say about how they might cycle standard velocity ammo.
What kind of Federal bulk ammo do you have? The Federal Champion (blue box) coated rounds are great, even though they used to be cheap....and, I think they are all HV (over 1200 fps).
You can't beat CCI, but be careful....I bought 2 bricks of the CCI standard velocity, thinking the CCI Standard V would be better than the CCI Blazer brand. The CCI Standard V are about 1050 fps and the Blazers are over 1200. Now I've got 1000 rounds that I didn't really want. (Blazers are a really good round for semi's if you don't mind uncoated lead nose.)
Go Blazers