Here's what P.O. has to say about the .280 Improved in his Volume 1 Handbook for Shooters and Reloaders "For shooters wishing to get the top velocity of a 7mm cartridge, this could be a good choice since it is still possible to use the factory ammunition in the Improved chamber." ... "It will be quickly noticed that there is very little difference between the top velocities for the .280 Improved, and the Magnums, plainly demonstrating that there is little advantage in using a belted Magnum case, for anything under.30 caliber."
At that time RCBS provided data showing a 140 gr. bullet at 3320 fps and a 154 gr. bullet at over 3000 fps, both loads utilizing 4350 powder.
Pros: Would provide an excellent "all round" big game caliber for hunting north america, or anywhere eles on the planet, provided you don't pick on a few of africa's biggest.. Has less recoil than the bigger magnums. Uses excellent 7mm bullets. Is not like an "06 that everyone has 2 or 3 of". Just saying Ackley Improved...is cool and nostalgic at the same time. Is factory chambered in the excellent Nosler rifle for 2007. Nosler 280 AI brass is wt. sorted and prepped and ready for reloading OR You can have a blast "improving" your own cartridge cases.
Cons: Uses a few more grains of powder than a .280 Rem. to get the improved performance. May have a "bit" more recoil that may be of consequence to some folks. Nosler rifles and brass cost more than Rugers rifles and Remington Brass. If not a Nosler Rifle...cost for "rechambering / rebarreling" to a .280 AI could be spent shooting or hunting.
Recommendation: Buy with your heart. If you want a .280 Ackley, it is a wonderful cartridge...buy it. And get it in the rifle model that you want, or have it custom built, or rechamber one of your other rifles that your not using. Will you be able to kill any critters with it that you couldn't harvest with a .280 (or .270, or 30/06, or .....well, probably not, at least not within generally accepted hunting range.
Previous advice is free and worth every-bit of what it costs.
Silvertp