Where FASTER loads do give a benefit is in a SHORTER FLIGHT TIME, which equals less time for wind to act on the path of the bullet. It's a distinction not recognized by many IMO.
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While there is merit to choosing a high velocity cartridge or load to reduce flight time at intermediate ranges, at long range the lower muzzle velocities resulting from heavy for caliber bullets loaded with smaller powder charges have certain advantages. Smaller powder charges often result in a lower extreme velocity spread resulting in tighter groups at the target. According to my ballistic software, an extreme spread of mere 25 fps with a 155 gr Sierra (2900 fps compared to 2925 fps) moves the POI 7". As for drift if we compare two .308 loads - the Sierra 155 gr MK at 2900 and the 200 gr MK at 2500, in a 10 mph cross wind the 200 gr MK has 8 minutes of drift compared 9 minutes for the 155, so a real world advantage of one over the other is almost nill.
Choosing cartridges with smaller powder charges makes shooting over the season less expensive in two ways. The most obvious is that powder consumption is lower, but the smaller powder charge is also less wearing on barrels. A rule of thumb I came across years ago is that in medium bores say from 6.5 to .375, the rounds which produce the longest barrel life are those with powder charges not exceeding 1/3 of the bullet weight. This does not seem to apply to small bores as .22's with powder charges of up to 35 grs do quite well. In big bores it is not an issue because powder charges are much lighter in relationship to bullet weight - at least in hand held rifles. It is interesting to note however that the .50 BMG falls with this rule. As an extreme example, it's not hard to see that a .308 will be less expensive to shoot than a .30-378, and within the .308's super sonic range of 1000 yards or so, it might be more accurate.