Here is a quick comparison both using Ballistic Tips (Only BC's I had handy - not my idea of a hunting bullet though.)
With a 250 yard zero:
270 WSM w/130gr BT @ 3300fps
300yds : -2.84"
400yds : -12.22"
500yds : -27.33"
270 WSM w/140gr BT @ 3100fps
300yds : -3.18"
400yds : -13.79"
500yds : -30.94"
7-08 Rem w/140gr BT @ 2850fps
300yds : -3.82"
400yds : -16.51"
500yds : -36.46"
The 7-08 gives up nothing in trajectory out to 300yds, ~ 3" at 400yds, and ~ 5.5" at 500yds w/140's (You still will require hold over with either cartridge).
The approx recoil in a 7.5lb rifle:
270 WSM w/140's : 23.11 ft/lbs
7-08 Rem w/140's : 15.75 ft/lbs
The 270 WSM has ~ 32% more recoil
I personally would get the 7-08 Rem if you are recoil sensitive (even if you're not... it is the best (grin)).
280_ACKLEY