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To be fair, at the time velocity and the belted magnum were big deals from a marketing standpoint. They were probably 'just' responding to what the gun writers at the time had told people they should want. On that note, and on topic, I think that has a lot to do with the sudden love for the things we now see suddenly loved.Let's design an awesome cartridge and then build a rifle with the wrong barrel twist so we can't capitalize on it.
Me, I've always liked the 300 WM overall, as a versatile choice in North America.
For something lighter, knowing i have the 300 for bigger stuff, I'd probably go 243 or maybe 25-06. But the 300 works for a very wide variety of uses.