Not quite sure what lead core bullets you have over there? 50%?
The .300Mag hits harder than any .30-06 any day of the year.
The bullet is not 50% of the weight by the time it reaches the animal. The pieces get dumped inside the animal. By that time, the animal has already been "hit"
As I said, the 300 hits harder than any 30-06.
I've seen the 300 break the shoulder on a Blue Wildebeest at 210yds, and still exit on the other side, and that was with a lead core bullet.
Regarding penetration, I don't argue. Nothing beats an expanding solid for penetration. It still has nothing to do with the hitting power.