Ok, since no one has really given a straight answer if they've used the 125 gr. BT out of the .308 Winchester or not (forgive me if I skipped over a post and missed it, I started skimming 3/4 of the way through the thread) I'll chime in YES, I HAVE USED THE 125 GR. NOSLER BT ON WHITETAILS AND MULE DEER OUT OF A .308 WINCHESTER. I'ved used it with two different loads, one for minimum recoil, and one for max velocity out of a different .308. The first was 47 gr. 4831 behind the 125 gr. BT, very light recoil, very good deer killer, excellent penetration, even through both shoulders, and no more meat damage than is to be expected with any bullet. The second load was with 51 gr. H380 behind the 125 gr. BT. Tackdriving accurate, I used this for a few seasons to see how well it did. Like most of you, I thought I would have mediocre penetration and massive meat damage. I shot 8 deer with it, all died with one shot, 75 to 350 yds. The 75 yd shot went completely through the chest cavity, hit only ribs and destroyed the lungs. Other shots were in the same region, some hit the shoulder bones and kept on going. This load was around 3000 fps and was a wonderful deer load. I have since purchased a .30-06 and shoot 165 gr. BT's out of it for deer. They have less meat damage than the 125 gr. BT's and kill just as fast. I have since moved to 150 gr. bullets in the .308 that liked the fast load (M788 Remington) They kill just as well as the 125 gr. BT's, but I feel a little better with the extra weight and better SD. I still shoot the 125 gr. out of the other .308 (Savage 110, wouldn't take the pressure of the faster load). This lighter load is an IDEAL deer load for anyone looking for less recoil and I highly recommend, recoil is in the same category as a .243 with 100 gr. max hunting loads in it, AKA, you can watch your bullet hit from a good rest. I highly recommend the 125 gr. BT for light loads out of the .308 for deer and antelope, it's worked great for me, and yes, I think the hunting-class Ballistic tip bullet are the best whitetail bullets made, hands down, with the exception of the 6mm 95 gr., please use a 100 gr. partition instead!
Selmer