I'm not a hunter, ballistician or wound trauma expert by any means, but I don't think that it is valid to compare hunting-grade rifles with handguns. One deals with 70 grain projectiles going 2,000 fps on up]
Good point. A .223 is travelling between 2200-2400 FPS and at those velocities, the bullet is creating a shock wave which is very damaging to the area surrounding impact. Most handgun velocities don't accomplish that but "hot" .357 magnum loads gave a good account of themselves.
I think most .40 and .45 rounds are better than comaparable 9mm, but the difference is really academic. A bigger hole off course is of no value.