I own one (no surprise there, I own one of almost everything) but have never hunted with the cartridge. As most of you know I have my 350 RM that covers the same scenario hunting wise and have used it for years. I do know several people who have used one exclusively and to great success even at extended ranges (for this cartridge). I also know two guides that used to pack the 358 and said it was perfect for the job. They never had a need to shoot way out and it had plenty of punch for the hand to hand distances.
I have fooled around at the range quite a bit with it as it is a fun cartridge to play with. I shoot 200 gn Rem bulk RN and spritzers and I can tell you that with a 200 mtr sight in it's only about 1.5" high at 100 and with a little hold over I can regularly peel the pigs off the rail at 300 mtrs. It is one of the few cartridges that has impressed me with it's big, fat, short bullet at moderate velocity, it peels the pigs off at 300 mtrs, with much greater authority that my 257 Wby. There are certain hunting conditions where I think it would be ideal and a big step up from the 30-30 or 35 Rem which have been traditionally used in these scenarios. It is also about perfect for a camper or back porch gun when in bear country and is not so obnoxious that the wife or child cannot be taught to use them effectively. I learned a whole new respect years ago for 35 cal bullets at modest velocities, they kill well above what their paper ballistics would indicate.
Why Not? can relate a story of a good friend of his harvesting a bull moose, with one shot, at well past 400 mtrs with his 358 (the only rifle he has used for many, many years) Ted was there and witnessed it, so that's good enough for me!! There are some pretty strong opinions expressed here, but the reality is a good hunter can hunt successfully with almost any cartridge or gear and have a good time..........The only difference hunting with a 300 Wby or a bow is 4 hours, that's how long it takes to stalk successfully from 500 mtrs to 40 mtrs........and a 358 has no where near the limitations of a bow.
I have many better suited rifles and cartridges for pretty much any type of hunting one would wish to undertake, however if the only rifle in my closet was a 358 Win, I sure as Hell wouldn't be staying home.
I have read every post on this thread and find it amusing that there are people who hunt successfully every year with 30-30s, iron sighted 303s, 7.62X39s and even old 38-55s and the like and they are given the "nod of approval" from many of the same people here who choose to denigrate the 358 Win. Like the 30-06 it too has a place and is better than some cartridges and not as good as others, but it does the job for those who like and use it.
It is IMHO a superior hunting cartridge to the 45-70, it has as much punch up close and has a much longer MPBR and is well suited to a bolt gun and scoping.........a better all around candidate than the 45-70.
Then there is the whole world of plinking and practicing with jacketed and cast pistol bullets, which I don't think has come up yet on this thread. This is another HUGE plus for the 358 Win as it allows many hours of joyful trigger time with a minimum of expense, even with jacketed pistol bullets, your costs are about half of rifle bullets. Some of these reduced loads are exceptionally accurate and are adequate for varmint and small game out to 100 mtrs or farther.