This is a great post, but I have to say that I had this same question in 2002 and went with the 300 ultra and never even thought twice about it. I also did not care about recoil, and I shoot in AZ where many of long range shots are across canyons for Coues, Muleys, Elk, and Bear.
I printed out ballistics, charts, energies (not knock down power as many of you call it), computational solvers, and compared nearly all of these rifles considered in this post. I also wanted a gun for all occasions and a trophy rifle for any species I hunt, at any distance, including much smaller coues deer. I wasn't concerned as much with meat loss, only flat shooting trajectories with high velocities, good ballistic coeffs, and high energy at longer distances (for me 350+ to 650 typically). I did want a gun for trophy hunting, don't get me wrong I eat what I shoot and don't only trophy hunt, but IMO if you're that worried about meat then get a different gun than those discussed here! If you shoot the bone with these calibers, you're going to waste some meat, and meat hunters shouldn't be shooting exceptionally long range anyway! I've shot coues at 150 yards with a 300 RUM 180 Gr. Nosler partitions and it didn't waste much more meat than my .243 at 175 yds on another coues deer, so go figure!
I think mtnmuley and I have our guns sighted in almost exactly the same for long range big game where I shoot 180 gr or 200 gr for Elk/Bear; however you can also shoot 150 gr Swift Scirocco for smaller short range and have a trajectory that is AMAZINGLY flat with high energy, outperforming the 140 gr. 7mm ultra (both NP - Nosler Partn)!
IMO - I wouldn't buy a short action for long range!
- I'd buy a 300 ultra over a 7mm ultra for longe range Bear
- The 300 ultra nearly matched or outperformed all other equal caliber rifles for near equal trajectory first, then examining energy second; and has flexibilty to shoot flatter 150 gr. for shorter range smaller game (you'll lose some energy at longer range of course). An awesome gun and my choice again, but now for a carbon bull barrel and some other goodies!