To decide between a .300 ultra mag. and the 7mm ultra mag. is in my mind personal preference. The recoil of the big 7 will be a little less, but for reasons of preference, I like the .300's better. The 7 will shoot a little flatter with comparible bullet weights...and with the 140 grain bullet, the 7 is very flat which makes hitting distant targets easier (if there is no wind).
Somethinhg about the larger diameter of the .300 just interests me more. But either way, I love the Ultra magnums and bet you will too.
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