You are correct, but to be certain, I would choose a smaller, lighter bullet, using controlled expanding bullets at much higher velocity than the 45-70 is capable of, every time. And, not just for grizzly bears.
A good friend of mine has killed more grizzlies with his 270 Winchester than anything else. My next door neighbour uses nothing but a 270 Winchester for all his hunting, and puts our big Ak-Yukon bull moose in the freezer every year. He not afraid to shoot bears with it, either. My wife has killed tons of big game, including bears with 270, 280, 308, and 30-06 rifles.
The truth is that people read more about 45-70s than actually hunt with them. It would be interesting to know how many guys here on CGN have actually killed big game using the 45-70. No one is saying it will not kill big game. Let's hear the stories about DRT kills using the cartridge.
Ted