I use .40 cal 200 grain bullets (XTP's or SST's) - worked well for me. I wouldn't have any hesitation using a 158 grain .357 bullet for deer hunting either - people have used this bullet with the .357 mag/max for many, many years with success, and out of a ML you're going to get higher velocity and more energy.

It all goes back to the small & fast versus big & slow argument - something that's been discussed for longer than I've been alive. Personally, I think there are merits to both arguments and situations where one works better than the other. For example, for big, tough or dangerous game (i.e. big hogs) that you're hunting at close range, I'd prefer something like a 460 grain conical over a 200 grain pistol bullet.