If you use Powerbelts, I'd suggest the heavier versions and using no more than 80 - 90 grains of powder. A lot of people have success doing this. But there are better bullets...
From my own personal experience I can say the following:
If you want good expansion, pass-thru's and blood trails- .452 Deep Curls (250 or 300 grain). I've only used the 250 grainers, but they have a massive hollow point that expands really well, and they also penetrate well. Don't use 150 grains of powder with them, though - I would use 80 - 100 grains, personally.
If you want to drop a deer in its tracks, go with a neck shot or high shoulder shot. Otherwise, it is might run a little ways, regardless of what bullet you are using.
Lehigh's/Bloodline bullets are another good option. I have shot 2 deer with them, and they do a number on deer. Several years ago I shot a nice 10 pointer with the "little" .40 cal 185 grain Lehigh (same design as Bloodline) and only 80 grains of powder. This was quartering-to shot. The buck hopped forward about 15 yards and then collapsed, kicked a few times, and that was it.
However, I've had similar results with other bullets. I actually prefer the 200 grain Shockwaves/SST's. Sometimes I get large exit holes, sometimes small, but there is always a lot of internal damage. Blood trail is largely dependent on if I hit the deer high or low - high hits tend to not give good blood trails.
I'm not the most experienced hunter around, but in my muzzleloading experience I find that shot placement is far more important than the bullet you are using- provided you are using a bullet within its design parameters (i.e. not shooting a 245 grain Powerbelt with 150 grains of powder).
Just my 2 cents...