I'm in the 'break it down' group. I find i can estimate 50 yards pretty accurately, so i go out 50, then another, till i get to the target. I prefer to do it before the animal enters the picture
Yes - a bullet CAN drop a lot within 50 yards, but only at it's max range and unless you're talking yotes or gophers you can still use the max point blank concept to address that.
I have 2 max point blank spots on game animals - one for 'normal' ranges and one for 'out there', where i know it's between 250 - 400 yards but no more. And frankly i won't shoot if i think it's out close to 400, but that's just me.
The new mueller scope i tried (their multi-shot) has a FANTASTICALLY simple and effective scope-rangefinder built in. The circle covers 15 inches at 100 yards, 30 inches at 200, etc. (when set to 5 power).
So - it's pretty easy at a glance to see how much of the circle the moose's chest fills, and get a rough and dirty range that's adequate for most hunting conditions.
Other than that - unless you're trying to go to the limits of your gun, really there's not much point. You know you're going to be 3 inches high or low out to 240 or whatever your gun is, and that's in the breadbasket on deer or moose. I'm just thinking 'heart/lung', i'm not thinking 'left ventricle'.