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Most other factory loads are borderline...
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I suppose that depends on the projectile and expectations.
Black powder revolvers of that caliber with even less than standard velocity loadings penetrates quite a bit and would still work quite well. Even the little balls that weigh about 140 grns are shown to penetrate quite far if it doesn't expand much and work quite well. And these projectiles are pure lead or close to it. Naturally the wound channels won't be a huge as one driven at magnum velocities, especially with a HP, but are still more than efficient and doing what's needed to be done if you do your part.
More is often better, but there becomes a point in which it's becomes nearly pointless. Dead is dead and any animal that couldn't go further than ~25 yds is exceptional.
The .44-40 and .45 Colt earned well respected reputations and certainly weren't magnums and didn't use hollow points.