When Winchester created their line of "short" (meaning shorter than H&H cases) magnums they did something smart, setting the loaded length so they would work through any action length that would handle a .30-06.
This worked quite well for the .264, .300, and .338 but turned out to be a handicap to getting claimed performance in the .458. Never understood why they didn't make the .458 a little longer so it could actually deliver the original velocity claimed. This is basically what the .458 Lott is, and does.
A longer .458 round would need a longer action, but Winchester already HAD that, in the Model 70 chambered for .375H&H, but they chose to go with the shorter round to fit "standard" length actions. No idea why, Perhaps some bean counter decided they would sell more of them that way, I don't know.
The "06 length' .458 Win Mag is a potent and powerful round as it is, and has handily taken all the big African game (and everything smaller) it just can't quite make the velocity Winchester claimed for it when they introduced it.
There's no animal with four legs that can tell the difference, only ones with two legs can do that, and some were disappointed by what turned out to be over inflated claims from Winchester, back then. I'm quite happy with mine but then, I don't run it with 500gr elephant loads.