my 7mm Allen mag sends 150's downrange right at 3700 fps so its running the same velocity as the 7mm-08 does at the muzzle at just under 500 yards.
Damn, RR, you like your deer pills moving FAST!

But then again, you're one of the elite few people I've heard of that can credibly take advantage of that much speed!
I personally think that the Nosler BT was designed with standard velocity and the "slow" magnum cartridges in mind, not the 100gr+ powder burners that have become en-vogue of late. If you like shooting a big magnum, and short shots are as likely as long, my personal choice would be to use a much stouter bullet like a Barnes TSX or Nosler partition (and others).
As far as the debate over the killing power of hunting grade BT's on deer, the line you see most is "I shot the deer and it ran 40 yards before it dropped, but the bullet didn't exit so what's wrong with it?" The answer is, of course, not a darn thing. The key is that the deer died, and did so quickly. If the deer is dead inside 75 to 100 yards, who gives a rip if the bullet made an exit hole?
Mike