Deer hunting its fine. My preferencevis the 458socom. Reason being is you can handload real hunting bullets and there is a HUGE variety of bullets in .458 for it.
The beowulf uses pistol bullets which tend not to have a lot of hunting based rounds although .500 bullet selection has gotten a lot better the last few years due to the 500sw magnum pistols.
It wont "blow a deer up". The truth is 458s and 500s do less damage to deer and game meat loss wise due to the much lower velocity and much greater weight than 30-06 and 30-30s do but do a far better job putting the animal down quickly and humanely.
You just about never have to track a deer shooting it with a big bore more than a step or two as you often do with "deer" rifles.
Its a great choice for a deer gun.
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