Well, if it's going to be in semi automatic form, we're talking a whole new beast and such a beast already exist, but in 50 AE. Some outfit makes an AR upper (carbine) in the cartridge. Fifty cases are also better suited for feeding in a semi and have hairsplitting better ballistics. I believe the gun is called a Hammerhead, Sledgehammer or Hammersomething. Or some corny catchy name.
George,
A 300 grain bullet powered by 30 grains of H110 will produce 53700 CUP and 1716 FPS from a 9.375" FA barrel. Would guess that double the barrel length would add another 300-500 FPS. That velocity would almost rival 45-70 for supremacy.
Robert