bronko22000

MPO, the .30-06. Probably the most popular cartridge in the world. If you don't handload, you have a wide choice of bullet weights in factory ammo to take everything from groundhogs to bear/moose etc.
I don't see much need for any of the short magnums. (Boy, that is going to raise some tail feathers...) I understand that most of them are pretty good shooters and we all need an excuse to buy the latest and greatest. I think that almost every shor mag model out there only has a 2 round magazine. Yeah, I know, us really good shooters/hunters only need one shot but somehow I feel more comfortable when I have at least 3 more rounds at the ready and don't have to carry any in my pocket.
If your only going to use this rifle for deer the 7mm and 06 are both a bit much unless you are going to be hunting those great big northern deer and shooting at 250+ yds.
Eldeguello said it best about performance.
Both these cartridges will cleanly kill a deer beyond 300 yds. And I really could never understand the term overkill. Dead is dead. If you are going to be hunting deer in the 200 lb and less range at moderate ranges I'd opt for a 7mm-08, .270 win or other mid-power cartridge.

NVMIKE

I think both of these are fine for deer on a performance basis, but w/ the 06 you can get ammo at any small town in almost any country. The short mags aren't as common.