I love them both and own both- I think it was a huge mistake for Ruger to stop making the tube mag version which is a tremendous rifle. For a better "all round" gun, you really cant go past the Ruger.
The M1 carbine is fabulous, but is simply lacking in power for most uses. It is great for plinking with. It has history. It has class. It has a 15 round magazine. It has no where enough power for a serious use, and is pretty much underpowered for deer ( except with careful shot placement, but since you cannot easily have a telescopic sight, that can be hard)
I think you can plink with the Ruger if you reload. Its a beast of a rifle, but , by Golly its fun to shoot and if you really need to kill something, it cant be beaten. I think also it makes a wonderful companion rifle for a .44 magnum revolver. You can also add a telescopic sight which increases its flexibility greatly).
"Beware of the Man with one gun...he probably isnt into guns enough to be safe with it".