KB,
You really didn't say how far your "average" shot is or would be for your hunting. If your longest shot is no farther than 150 yards, then the 7-30 Waters using a 139 grain will do ya just fine. I have a 14" 7-30 for my Contender and it's incredibly accurate. I've taken it out for doe on several occasions, but have not downed one with it yet. (To clairfy...I haven't even pulled the trigger on one yet) Maybe this year? I will tell you that my Contender Waters recoil is mild. Much less than a 6.5" barrel 44 magnum revolver if that will help you out.
If you want a bit longer range the Swede may be a better fit. I can't tell you the velocity loss in a handgun, but I do shoot the swede in a modern (Savage) rifle and with IMR-3031, it will push a 140 grain SST to 2700 fps. Some say it will push it faster....and that may be true, but for me, if it hits that magic number...that's all I need. But again, from a handgun I'm sure the Swede will give you a bit more than the Waters. But.....that may only be necessary if your looking at taking some longer shots.
MHO
Dave