The 7mm bullet to me is one of the best out there, and I would not trade a 7mm rem mag to buy a 7mmwsm to hunt with, but when I got a new one this year I got it made up in 7mmwsm I checked loaded ammo by Federal for the 7mmwsm 140gr, 3310 fps, I looked at Remington Ammo in 7mm Rem mag. 140gr 3175fps, and the Rem ulta Mag 7mm 3425 fps but I wanted a short action to keep weight down.and I like the short stubbies the just seem to be easy to get to shoot small groups.
My gun with reloads 7mmwsm 3300fps+ a little and I think with powders I used thats about it for velocity, and from what I have read on the 7mm mag with 140gr bullit high 3200, but the 7mm ultrawill be what stubblejumper noted 3600fps reloading,which is considerably more fps but at a cost,as I said earlyer lots of powder & recoil,

I do have to repeat that if you accept the limits of the 7MM WSM which would be limited availability of factory ammo and limited powder capacity for heavy bullets then it has its plus factors. Such as lighter weight and shorter action. This one was designed for shooting the 120 to 160 grain bullets and at that it does a very good job. The only other down side is that it may not survive in the market. However if you reload and stock up on Brass, this shouldn't be a problem. I think reloading is a must with any of the WSM and RUM cartridges.

James. what you said is true and is sad to hear, as the 7mm is a great bullet, Rem droped theball to many times, underloaded the .280, again with .244 to late, and the 7mmsaum & and the Ultras are not selling well, it seems winchester just keeps out doing them, but I still like there actions.

Don't forget they also dumped the 5mm and the 8mm Rem Mag. I like their actions too though.