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One difference that is important to those heading on safari, and may become more important within the next few weeks, is the size of the ammunition. Anything greater than .5 is currently illegal to take out of the USA.
And so, history again repeats itself. This notion of making illegal those calibers which are used for sporting purposes spawned an era of new cartridge development and wildcatting. We don't have as many gaps today as once were, and our cartridges are more effective today with the advent of better powders and bullets but, who knows?
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Re: 470 vs 500