I have an M1 Carbine that I really like, for no real particular reason other than I enjoy shooting it. However, everything I have read seems to agree that it is too light for deer, unless maybe the really small guys down South at close range. I would have to disagree that its power level is on par with the .357, another favorite of mine. The carbine only has a 110 gr bullet which maxes out at a bit under 2,000 fps. The .357 in a lever gun can put out a 140 gr bullet at about the same speed, or a 110 grain that is about 450 fps faster.
When you chamber it in a handgun, that .30 carbine velocity drops to about 1400 fps. That aint much oomph, pardner! I think you would be hard pressed to make a sporting kill with that little power, even with a well placed close range shot.
I dont think either one of these are optimal hunting tools, except for the very experienced hunter. If you are new to the hunting game, you would probably be better served by something a bit more powerful. If you want a light deer gun, consider the 30-30 in a lever gun. The only reason it is still around is because it has worked for a lot of people for an awfully long time. Then see if you can find a Blackhawk in .41 or .44 mag.
Good Huntin!