jpuke,
if you are just going to use the full power .458 loads at the range or in "one shot" hunting situation, you may want to consider a muzzle brake. I like to use the KDF style. With a removable brake, you can use it with the full power loads, and remove it and install the threaded cap when you don't want it. I'll advise you use ear plugs and ear muffs when firing with one in place, but that's a good bit easier and less expensive than reinventing the wheel on this matter. I'm not a big bore guru, but this seems like the most expedient measure in my book.
The other side of the coin is that the "buffalo loads" you want to duplicate provide for plenty of recoil in even a heavy rifle. Long strings can prove painful, depending on your tolerance. A means of getting around this ,rather than a new barrel, might be to have your stock bored for a mercury recoil reducer, or two, they do work and it will add a stock heavy bias that some find enhances off hand shooting.
PS. Where do you shoot? I'm down at Weeping Water often.