Quote:
Momentum (MV) ~ Penetration
Energy (½MV^2) ~ Destruction
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Good description^^. Of course, destruction only occurs when the bullet can dump its energy into the target. That's where hollow points come in, etc.
The Momentum or Power Factor calculation in practice favors heavy bullets. That's why most competitive pistol shooters (who have to meet Power Factor requirements) tend to use heavier bullets. From personal experience, a lighter bullet making PF will recoil more than a heavier bullet (all else being equal, blah blah blah). There are exceptions, but in general.
Kinetic energy favors velocity, since the calculation squares the velocity. This calculation favors lighter bullets because you can propel them faster (all else being equal, blah blah blah).
Of course, these two principles are the impetus (pun intended) for most all discussions about the most effective hunting or self-defense ammo.