I believe, if I'm not mistaken, that the SWC and WC's were designed to cut a round hole in a paper target.
The WC was designed to cut a clear hole in a paper target, for scoring purposes. However, after 35-40 yards, the WC begins to lose stability, and it can tumble after 50 yards. That's where the SWC comes in, because it stays stable over long range.
As far as RNFP vs. SWC for hunting, I would first see which one was most accurate in my gun. If they are equally accurate at hunting ranges, go with the one that has the widest meplat. Tests have shown that the wad-cutter's shoulder doesn't really widen the permanent wound channel, the flat nose does all the wounding (the elastic flesh is still pushed out of the way by the shock of the bullet's nose as the shoulder of the bullet passes through, so the shoulder doesn't do much, unless you're shooting inelastic paper). The extremely wide meplats of the LBT style cast bullets translate into wider wound channels, and more efficient kills.