One must remember that the Taylor KO is a good way to compare one gun against another but in no way tells the whole story of performance on Game.
James, you're absolutely right. No one measure tells the wholes story. TKO largely addresses what happens once the bullet gets there not how well it flew getting there. There are other theoretical components to killing power like: hydrostatic shock, energy, momentum, penetration, and probably a few others as well. Yep, TKO is only part of the story, a goodly part and a valid "piece of the puzzle" IMHO.
It does add just one more nail though....
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Back to the orignal thread regarding ballistics, that involves a different set of concerns and exercises, one of which (sectional density) Slamfire accurately pointed out. Yet for hunting purposes I feel the "in the field" difference is negligable. With the majority of highpower rifles with scopes zeroed at 200 yards and shots held to under 300 yards, the ballistics are a pretty small piece of the picture. The bullets from modern firearms that are anywhere near aerodynamic, all fly down an amazingly very similar path for 300 yards, especially given the size of the "kill zone" on big game.