Premium Bullets Turn a 30-06 into a Magnum
When comparing a bullet's energy in a 30-06 versus a 300 Win Mag, if you put a premium 180-gr. Nosler AccuBond bullet in a 30-06 at 2,750 fps MV and compare it to a plain jane Winchester 180-gr. Power Point in a 300 Win Mag at 2,960 fps MV, the 30-06 AccuBond will have an amazing 104 ft. lbs more energy at 300 yards: that's right - 2,005 versus 1,901 (Source: Winchester's 2005 Ammo Catalog, p. 10 - 13).
This is called Ballistic Efficiency!
Note: Federal, Hornady, and Remington all report similar data when comparing premium ballistically efficient bullets to their standard line, with a 30-06 being equal to 300 Win Mag performance. Basically, the principle is the same as outline above.
Nosler AccuBond
The 30-06 180-gr. AccuBond with a BC of .509 easily makes up for and surpasses the 210 fps velocity advantage the 180-gr. Power Point had (to begin with) because of its much lower BC of only .349.
In short, an aerodynamic bullet with a high BC can turn a regular caliber like the 30-06 into a magnum, as far as performance is concerned and in this case, the 30-06 180-gr. AccuBond outperforms a 300 Win Mag 180-gr. Power Point at 300 yards, but give the 300 Win Mag the AccuBond and the tables are reversed.
In summary, there's two ways to get extra performance out of a 30-06:
1. Upgrade to High Energy or Lite Magnum ammo.
2. Upgrade to a premium bullet with a high BC for more energy downrange.