Most of us know that the advantage of trajectory and power will always go to the case with the most capacity for powder. The advantage of the 300 WM vs. 30-06 at 400 yards would be trajectory of a few inches and a few hundred ft lbs of energy. Neither cartridge with a 200 yard zero would be aiming out of the body for hold on a deer. Neither cartridge is lacking ft lbs of energy to get the job done.
A bad angle or a bad hit neither cartridge has the advantage. It has always been from what I've seen in the field 500 yards is the playing field where all this really starts to matter. Time of flight matters. Trajectory matters. Bullet design matters. Optics matters. Getting a rest matters.
Remember this if your not aiming at hair your wrong. That simply means your target is far enough that you have come off the body at your point of aim and you better know your trajectory and distance your shooting at. When you blow a leg off an elk it don't matter how hard it got hit a three legged elk still can climb mountains faster and longer than you can. Tighten your laces up because your in for a hell of a day or days.
I say buy the 300 WM. If you can't shoot it as well as the 30-06 because of recoil find a way to tame it. This is the modern day they do make such things to stop that punishment. Put a bigger more aerodynamic bullet in it and take advantage of that case capacity. Or take the next step and buy a 300 RUM and I can't believe I just said that but if your going to take a plunge jump a little further. You will need a break for that one.
Large magnums don't like pencil barrels that well. Just sayin. But then again what do I know.