For deer sized game out too 400yds there is practically no difference between a 7mag firing factory 140s vs a 06 firing 150s. Practice and BOTH will kill fine. I have one 06 and 2 7s, the last 7 being a gift so what the heck. The advantage to the 06 is typically a 22" barrel and a plethora of ammo available. But the 7mag is the largest selling mag in the nation so there are plenty of bullets available for it as well.

Recoil wise, I cant tell a difference between the calibers if the rifles are of like stocks and weight. A 180grn 30/06 will take anything from mice too moose inside of 400yds. The same can be said for a 160grn 7mag.

IMHO to get any gain by goin "mag" you have to step up too the 300Wby Mag or bigger in 30cals or a 7RUM or bigger in 7s to get any appreciable advantage over either of the cartridges in question.
RA

ps
I know alot of guys will balk at this but here goes anyway, if I didnt have a rifle period I would probably get a 300WSM. All the power you need in a lightweight package without a long barrel. Let the flamin begin...