Reynolds, I'd rate the 7.62x39 as a 150 yard deer cartridge rather than a 200 yard, but that's a plenty in my area. You are absolutely right about the heavier bullets. I am pushing a 159 cast semi spitzer at 2200 fps or just past from a CZ 527 Carbine with an 18" barrel. That's ahead of the .30-30 by they time it gets to 100 yards and a good bit ahead in both velocity and energy at 150.
I'm looking forward to the Handi. I'll get a complete rifle if I can because I already have too many barrels for my one SB-2 frame.
My guess is that they have introduced the 7.62x39 now because the new extractor solves the sticking problem. I'm told that can be a real problem with the lacquered steel case ammo.
Anyway, looks like we now have the answer to the perennial question of what to start new shooters on. The combination of dirt cheap practice ammo, good deer capability, and low recoil is gonna be a hard one to beat. Accuracy is just flat outstanding, too, at least in my rifle with handloads. Tolerable with the cheapie ammo.