This is one of those fascinating threads that just gets better and better. Here are a few of my own thoughts on the topic.
While we are all always searching for the ideal, it doesn't follow that there is only one. Both the 7.62x39 and the 5.56 NATO are pretty good and both have been in use since before I left high school. That must say something. Neither operates on the battlefield all by itself, which means that the ideal assault (or infantry rifle) cartridge should not be expected to do everything. Otherwise compromise enters into the picture. That is, unless you see these two cartridges as compromises themselves.
Some suggest the problem is lack of training. An infantry unit, when not in action or on R&R, is training. Not training on the range, of course. They will go through a training cycle to enable them to operate as a team, and as part of larger and larger teams as the cycle progesses. I assume the Taliban is always in combat, or so it would seem. Anyway, there is no way you can train everyone in an infantry unit to be above average. Excellent marksmanship is not only the result of good training but also of talent and certain physical abilities, both of which you need to be born with. You can't train someone to have good eyesight.
That means it is pointless to talk about the 500-meter capabilities of a cartridge when the average soldier will have trouble making hits at 300-meters. No offence to all you average people. That doesn't mean a full-grown rifle, such as an M14, has no place in an infantry unit.
Moving on to the weapons that use these cartridges, I think the AR-15 family of weapons is pretty good. I owned an AR-15 and was mightily impressed with it, though I only had an M14 in the army. At the same time, I have no idea why anyone thinks an FN FAL is any better than an M14 but that's not an issue that belongs in this thread. But the M4 seems to be more common these days. We had one here at work for a month or so a few years ago and I had a chance to examine it closely. It sure was a heavy thing but otherwise it seems pretty handy.
While we all talk about the ideal cartridge, other, more progressive folks have fooled around with what we (they, that is) have and have done things to improve performance. Not with the cartridge but with the sights. Optical sights are lavishly issued in the armed these days and hits ought to be going up. If not, I'd like to know why.
Now, about that foolishness about just wounding people. Where do people get the idea that only wounding an enemy takes more of them off the battlefield. Only we take care of the wounded like that and for that matter, we might be the ones taking care of the wounded enemy. Even more so, I imagine that we shouldn't take prisoners, either, for the same reason.
None of the above is to suggest that we have reached the end of small arms development.