Interesting question. In terms of drop and wind drift advantages, some where around there. But there is a more important issue to me, when considering LR shooting. Regardless of a bullets BC and velocity, to hit a target at long range, say 500+, you must know your drop and drift, if you don't have your DOPE nailed, odds are you miss regardless of the BC. It is sure easier to correct for less wind drift at long range, vs more, so advantage high BC.
I see drop corrections as much less of a challenge. Bullets are dropping so fast out there, you have to compensate with any bullet, but with today's great scopes and range finders, that part is relatively easy. The other advantage of very high BC is retained velocity. A given bullet has a velocity window where it is designed to be lethal on game, by design. They vary. A high BC bullet with a low velocity minimum impact velocity, essentially helps extend max range. I'll go so far as to suggest I ignore arbitrary foot pounds rules for lethality on a given type of western ungulate big game and look almost solely to impact velocity being enough for the bullet to perform. Velocity is a big, too big many argue, part in the foot pounds method often used to calculate energy.
So the way I look at it is this. I pick a bullet that will retain enough velocity to be at least 5-10% above it's minimum velocity to expand at my max range. I ignore drop as I will have to develop my DOPE regardless and as I suggested above, drop is the easy one. I won't shoot far in high wind either. The max range I can easily practice at is 600 yards, so that is my max. Since I hate recoil, I can use a non-magnum to easily be lethal to 600, my 280 shooting a 145 gr. Barnes LRX at 3,013 avg MV fills the bill for me.
Relative to the light bullet, a hyper fast bullet can be used to flatten trajectory for a bit, then they fall off a cliff due to low BC, really accomplish little a heavier more efficient bullet would do. Out of the same gun, a very fast 150 can recoil very much like a slower 180, in terms of measured recoil, but there is often a difference in felt recoil, pulse, duration and such. Recoil is an issue, one I mitigate with standard cartridges, rifle weight, recoil pads and a properly designed stock, not a light bullet. Individual preference is as important as anything else, where recoil is concerned, in an example like this, I suspect.
I think you are on the right track with SD. For deer and the like, SD is not a big consideration. For elk, it can be very important unless you are very selective in bullet placement, so for me, good elk bullets begin somewhere around .250 in SD. A 140 grain .284 has a SD of .248, as does a 165 gr .308. In .277 130 gr. = .242 and a 140 = .261, both of which kill elk, with the 140 gaining an edge in penetration due to the SD, all else being equal.
Accuracy is a push, relative to bullet weight, as far as I know. But it can be easier to be accurate with less wind drift and sometimes less drop. For long range shooting, wind is the real issue in my mind, ergo high BC bullets, which tend to be heavier and very streamlined.
So it sounds to me like your are well grounded in your opinions, at least according to my opinions...
