What matters with a revolver at 150 yards is accuracy, not power. I shot IHMSA for many years out to 220 yards with revolvers, and my best performance came with a Dan Wesson .45LC shooting 300-grain bullets at 1100 fps. Very accurate and plenty of power for the rams - never lost one. This was a moderately-recoiling load, and I usually shot better scores than the .44 Mag guys because they got tired of the recoil after 30 shots.
Here is the ballistic performance using Hornady data* at 150 yards for both cartridges in 7.5" barrels:
.454 - 300@1600 fps - 1226 fps/1002 fpe -6.4"
.44M - 300@1200 fps - 1014 fps/685 fpe - 10.7"
In reality the difference in killing power is slight at 150 yards - any experienced hunter is well aware that a 300-grain bullet at over 1000 fps kills very well. The difference in drop of 4.5" may be of more importance, but any revolver shooter trying for shots at that distance and beyond should have a laser to verify the range. The much lower recoil of the .44 will allow most hunters to practice more and shoot better. True, some of us can manage the extra recoil, but be realistic, we'd rather fire 50 rounds of .44 than of .454 in an afternoon.
Bottom line, a .454 offers marginal performance improvements over the .44, but for 150+ yards a revolver is not the weapon of choice for 95% of hunters, IMO at least.
* Yes, some will say that they can load the .44 hotter, but the same can be said for the .454. The relative differences are about the same.