As a gun guy this question always amazes me, the 45-70 was adopted by the US Army to do one thing, kill the Mustang ridden by the plains Indians. Is it a long range cartridge no, it was never designed for that purpose but at a 100 yards or less it's death to anything with hooves.
I can't disagree with you that it definitely has the punch to drop the biggest animals on earth. That is true. The 7x57 and 8x57 have also been used to great effect against the largest animals in the world. The problem lies in the fact that these animals are also some of the best equipped to send you home in a series of small ziplock bags. I know a lot of people will tout the tough little scot W.D.M. Bell... It seems he has become a byword for using smaller calibers to take on the largest animals. Yet he somehow survived to reitre a wealthy man. I find that akin to saying that cars should be driven 100mph through Monte Carlo because Formula One drivers go through there at top speed with very few accidents.
I don't know if anyone here is diputing the fact that the .45-70 is lethal on big animals. (If you are, you need to educate yourself a little more.) I think what is being said is, buffalo, Elephant and Lion hunts are expensive and can be dangerous. While a .45-70 will kill those animals under most conditions, it may not be something that will always work. I mean, sometimes, the .416 doesn't always work and it has substantially more punch that any .45-70 load with the exception of the "I worked this one up myself, and even though it isn't in any load manual, I haven't blown myself up yet..." loads. It irritates me to no end when someone has no pressure testing equipment starts spouting that their load "easily duplicates the factory ballistics of a .458 Win." Despite the fact that they neglect to mention that their rifles action has stretched since they bought it... A little off topic I guess. I just have a hard time when people endanger others who are new or don't have a full grasp on things because they are so keen to tout their Atlantean knowledge of firearms that only they know and no one else has figured out yet
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Back to the .45-70 though... I have one, and it is an AWESOME firearm. Mine is a Marlin Guide Gun and it hits with real authority. However, in my opinion, it doesn't offer the safety net of some of the larger and more proven calibers. Modern bullets have helped some (like the Punch Mountain turned bronze bullets), but if the guide gun is better with modern bullets, then it stands to reason that a .375, .416, .458, etc... would be
even better with modern bullets. The safety net of those cartridges is a confidence boost when tackling an animal that is bigger than a mustang (the pony not the car.) and many orders of magnitude tougher. So when you level your sights on an animal that can quickly turn you to tomato paste, with many thousands of dollars on the line, its nice knowing you have a little backup power and oomph in your gun.
And those who think that kinetic energy makes no difference (often touted by .45-70-ophiles) and it is just an arbitrary number based on velocity, look at damage when NASA fires a tiny BB at a plate of solid aluminium at 10 miles per second. The damage path is MUCH bigger than the BB. Any hunting projectile that surpasses the speed of sound in water on impact, sets up tremendous shockwaves within an animal. Obviously, you still need penetration and the bullet to stay together, not to mention putting it in the right place, but that is why slow, large calibers like the 4, 6 and 8 bores were quickly replaced by modern fast, small caliber bullets (relatively) like the .416, .458, .470, and .500. They saw no loss in effectiveness, while greatly increasing penetration with a jacketed bullet. Speed definitely has an impact on the effectiveness of a round. It assists in "taking the fight out". That is why I still would rather have something more substantial than the .45-70.
Just my opinion, however, I don't want to rile anyones feathers and thats part of the reason I love AH forum. People aren't easily offended and we can simply state our opinions without need to attack each other over some moot point.