Watch out now! Here you go trying to rile up the "Super Duper Magnum" boys that hang out on here with your first post!
I've been preaching the notion that bullet placement means more than raw power/mass for years, but sadly, it just doesn't penetrate a lot of peoples hard heads. To me, it's common sense that if a bullet of any caliber/weight/construction can consistently penetrate the vitals, and do enough damage to them, then it's going to result in a very dead animal. If that same combo can also exit the off side, as you obviously know, it'll also result in an quicker/easier recovery. This is absolute fact no matter what the caliber used is.
Like you, my goal is to knock a good sized hole in the vitals, and have an exit to boot. It's this criteria that I judge every big game load by. If it doesn't measure up to this simple standard, I continue experimenting till I find a combo that performs the way I want it to. A very good example is with 22 caliber deer loads. It's fairly complicated to find a happy medium with a 223, 22-250, etc. for deer. You end up with a load that blows up inside(no exit), or drills a very small wound through the vitals, and exits. For this application in the 223 I use Sierra 63g SMP's, or Winchester 64g PP's at around 2800 fps. With these loads you end up with a combo that'll bust through a facing shoulder, put a decent sized hole through the vitals, and you'll get an exit around 80% of the time on normal sized whitetails.
Just like you, I'm a firm believer in "it's all in where you hit'em"...