Here is a 140 Ballistic tip at a very reasonable 2900 mv.
2900 2614 58.00 0.000 0.0 NaN 717
100 1.6 -6 2710 2283 54.20 0.107 0.6 2 585
200 0.0 0 2528 1987 50.56 0.222 2.6 5 475
300 -7.1 9 2354 1723 47.08 0.345 6.1 8 384
400 -20.4 20 2188 1488 43.75 0.477 11.1 11 308
500 -41.1 31 2027 1277 40.54 0.620 18.0 14 245
You will notice 500 yds fps is 2027.
I killed a deer w/a fireform load w/7mm TCU at 30 yds in my neck of the woods, using a 140 ballistic tip, did just fine.....formed the 14" TC will get 2200, but when fireforming as was my load, you are getting around 2,000. I am confident it has enough punch at 500 yds if you start at 2900 in a standard length sporter, 22-24" bbl. My deer showed signs of decent expansion, complete broadside penetration, and nice exit leaving a blood trail.
Today if I were using a 7/08 I think my choice would be the 140 Accubond, however a 120 TSX would get my consideration and likely some R&D
Many like the 120 BT:
Max Point blank range is 297 yds when zeroed at 253 yds.
Range
yds Path
in ComeUp
clicks Velocity
fps Energy
ft/lbs Momentum
lb ft/s ToF
sec Windage
in Windage
clicks Optimal
Game Wgt
Muzzle -1.5 Infinity 3050 2892 61.00 0.000 0.0 NaN 834
100 1.4 -5 2822 2476 56.44 0.102 0.7 3 661
200 0.0 0 2606 2111 52.12 0.213 2.9 5 520
300 -6.6 8 2400 1791 48.01 0.333 6.7 8 407
400 -19.2 18 2205 1511 44.10 0.463 12.3 12 315
500 -39.0 30 2018 1266 40.36 0.606 20.0 15 242
Flip a coin but I'd go w/a 20 grain heavier 140 myself if using a 7/08 or similar round for deer, and take the greater S.D. just because it's there, 2.1" difference in drop at 500 yds.....well I cannot normally hold that well
Now if you are running a 270, I'd suggest the 140 in WSM either BT/NAB, but if in the long action WCF, the 150 BT looks like an ICBM missile....at 2850
Below is a 140 BT .277 at 3000, I'd say a good load for a 'long'
WCF:
Max Point blank range is 295 yds when zeroed at 251 yds.
Range
yds Path
in ComeUp
clicks Velocity
fps Energy
ft/lbs Momentum
lb ft/s ToF
sec Windage
in Windage
clicks Optimal
Game Wgt
Muzzle -1.5 Infinity 3000 2798 60.00 0.000 0.0 NaN 794
100 1.5 -6 2794 2426 55.87 0.104 0.6 2 641
200 0.0 0 2597 2096 51.93 0.215 2.7 5 515
300 -6.7 8 2409 1803 48.17 0.335 6.2 8 411
400 -19.3 18 2229 1545 44.59 0.465 11.4 11 326
500 -39.0 30 2057 1315 41.14 0.605 18.4 14 256
As you can see....at 500 yds, your impact is 2" flatter than the 7/08, and you p/u about 40 ft. lbs of energy....about that of a .22 CB cap I'd guess.
Flip a coin, you will be fine. More important, start w/an accurate rifle, use good ammo/handloads, practice, learn YOUR rifle and it's trajectory/wind for how you sight it in, and get a range finder if you plan to shoot 'way out yonder.'