.308 or 300 WSM; X-Bolt, Savage Weather Warrior, Ruger Laminate Compact
A .308 will do everything you need at 0-500 yards for deer. Although the 300 WM is more popular, I'm now getting a 300 WSM because I prefer modern and more efficiency (but I still love my M-14 & SKS!!
Doing the research, I wouldn't go with a long action anymore, when the short action, WSM's are technically better (with very little loss of speed) [Unless I got a .338 Lapua Magnum
Wonder when Lapua will develop a short version of that too
.338 LSM??] A short action rifle is can be a lighter weight design. Opening a can of worms?
A 300 WSM will take down anything in North America (but anyone with great shot placement can probably say the same thing with any decent caliber). I'm most likely getting the X-Bolt Stainless Stalker (or the blued) and put a VAIS muzzle brake on later. VAIS is hands down the best, not because it reduces recoil 40%+ but due to the fact the NOISE level does not go up - like every other brake design. I put this brake on my previous Ruger Laminate Compact and couldn't believe the difference.
Reason for the WSM is that the ability to take large game down at 4-500 yards. From deer to elk to moose, longer ranges are not a problem with a 300 WSM. Reload using the new Hodgdon/Hornady Superformance powder and 165/168 grain bullets (the 165 match or exceed 180s, so really no need for 180s unless your going for dangerous animals or bison).
First time, my recommendation is any X-Bolt you like or a Savage Weather Warrior. If going to a magnum (or any lightweight rifle), get a VAIS muzzle brake. I prefer the X-Bolt's quality and 1" shorter barrel (23" vs 24" on the Savage).
I started with a Savage 10 FP (.308), got a Ruger Laminate Compact (.308, 16.5" barrel), then Remington SPS Tactical (.308), Norinco M-14S (.308), Norinco SKS (7.62x39mm). Reloaded .308, .223, 30-06, 300 WSM. Now my all around hunting rifle will be 300 WSM, just because hunting is only 3-4 months of the year here (really only 2 for me) and I don't want to own multiple rifles for hunting. A 300 WSM will do everything and take anything, at any distance that I can comfortably shoot. A VAIS MB will take care of the recoil (and MB noise issue).
I was a newbie to "real" guns (although shot since I was 10), slowly learning and maturing in shooting and reloading. Thanks to all the great research on the net, in forums like this and learning the hard way.
If you're only shooting deer at reasonable distances, a .308 (or 7mm-08) is probably you're best choice and recoil is minimal (don't want to develop a flinch and bad habits). In fact, I would recommend the Ruger Laminate Compact (great "truck gun" or carry rifle) with a VAIS muzzle brake - but reload with faster powders like Benchmark or I think XBR 8208 was good too. Slower powders like 4064 had too much flash or unburned powder with the short 16.5" barrel. I think this is the best carry rifle around though, due to it's size.
Hope you're happy with whatever choice you make. Either way, it's all a great learning experience, won't be your last rifle or caliber...probably
Let us know what you end up with and your experience!