Thread: Is .223 a good all rounder?

Looking at a bolt gun that is chambered for .223, Pretty keen as it is cheap to shoot and is a pretty quick little round.

I'd want it for both a bush gun and range gun.

Would this be okay to use on deer? Obviously it would down a deer but I'm just concerned about range and penetration.

Would it be worth saving more and upping to .243 or 308?

Opinions please