This is a very simple question to answer.
You bought a .338 not a 7mm; therefore use the 210 grain bullets!
+1
The 160 has a relatively poor BC and will lose velocity pretty quick. Another bullet to consider is the 210 Scirocco II. Might be a good option for the 338 Fed.
A quick run of numbers shows the 160 has a velocity of 1768 and KE of 1111 @500yds while the 210 S II has 1832FPS and KE of 1566 @500yds. Bottom line, the heavier bullet is also going faster by 500 yds and will hit harder whatever energy methodology you use. The 160 will drop 1.2" less though (-7.8" vs. -9.3"). But, numbers aside, they will both do the job.
