ORIGINAL: 2 Lunger
If it is watery red blood it would indicate a gut shot. To go 200 yards without bedding puzzles me though. Like was stated before I just hope you thought it was 200 yards. Usually a flesh wound is dark red blood. The color of blood when you cut your finger. Water in the blood tells me gut shot.
I agree. I'm thinking he might of even hit the piss sack on this thing. I've seen watery looking blood before that was caused by the bladder getting arrowed after Inspecting the deer later after we got It. As far as the deer not bedding? I bet your right 2 Lunger from what you said in your other post, deer probably got pushed a little to quick.