This is a subject built for discussion!!!
I read an article by the Chief Ballistician for Berger Bullets (can't remember his name off the cuff) about why the 7mm caliber was superior to .308 for long-range hunting.
Since I'm writing this from my ever-diminishing memory, i'm probably making inaccurate references and drawing erroneous conclusions from that article. However, as i recall my opinion and experience-formed intuition about the 7mm caliber vs the .308 was affirmed by his empirically-derived, scientific hypothesis.
In brief, that to achieve equal BC parity with the 7mm cartridges, .308 caliber cartridges had to go with a much heavier bullet, commensurate increase in powder charge with resultant increase in recoil - just to acheive parity. However, iirc, the 7mm still maintained a better trajectory and higher retained energy at "equal weight-for-caliber projectiles" requiring lower, more efficient powder charges.