"One thing I was told about large caliber bullets is that they all fly very very straight, the downside is of course that the bullet's weight keeps dragging it down a lot quicker than smaller calibers"
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Sorry, but if dragging it down means slowing it down, I can't agree.
The larger calibers maintain their velocity better than the small calibers do for any given range.
This is because the Area of the ball (read "drag")is a function of the square of the radius, while the volume of the ball (read weight*) is a function of the cube of the radius.
Putting it in terms easier to see, the following data gives the velocity of three different size balls, each fired at 1500 FPS muzzle velocity along with their velocitys at 50 and 100 yards:
Diameter, Muzzle Velocity, 50 yards, 100 yards
.310 dia, 1500, 988, 786
.390 dia, 1500, 1042, 859
.530 dia, 1500, 1114, 947
As you can see, the .310 ball looses 714 FPS at 100 yards while the .530 ball looses 553 FPS at 100 yards.
* Yes, I know, it is actually mass but in any terms it weighs more.