120 to 130 is not a waste of powder - and what many would consider a mag load.
There are a lot of projectiles that will work very well with this load and on up to 150 gr from point blank to 200 yds - even if it is a waste of powder. You admitted pb's will
not do this. Why would anyone carry a load expecting long shots that might not work if a 5 yd shot presents itself - and pay a premium to do it?