I've got a winchester featherweight in 270 WSM. Shoots really flat and fast. Recoil is a little hard, but this is a lightweight rifle, so I don't think it's any worse than the 7mm mag or a 30.06 in the same rifle.
Availablity of the cartridge is more limited than a plain .270 or a .30-06 so I always make sure to bring supply with me on remote trips. There are now more manufacturers making this product so the variety is improving, but it will never be as versatile as the 30.06.
I've used it on deer, moose and blackbear. Bad shot placement limited my options on the big moose, and I would have been better off with some reloads a little heavier than the factory 150 grains that are available.
I would consider where you'll be shooting or hunting. In the trees with a light grain bullet, the 270 may limit your options a lot more. For me in the prairies, I like the speed and flat trajectory of the .270 WSM
I would stay away from the 7mm WSM. It hasn't really seemed to catch on. If you want a bullet on the heavier end of the scale, I would definately consider the 300 WSM as well.