Well, first off; I don't quite understand the concept of "barely" dead.

As far as "leaving a lot to be desired", yes, if you're needing a rifle for shooting deer past 100-125 yards, it's not enough for the average hunter. If you're wanting to blow shoulders nearly off, or leave exit holes big enough to put your head in, it's not enough. If your common shot is up the butt because you're used to seeing tails instead of close broadside or quartering shots like you should be striving to see, again, it's not enough.
If though, you're a good woodsman/hunter that "truly" respects the game you're pursuing, and you can consistently get within 100 yards or less, and have enough self control to pass on some of the rediculous shots that a lot of the "big magnum" crowd are all to willing to take it's more than just enough. It's perfectly suited to hunting deer if you merely apply all the rules that we've all preached, and/or heard preached since we picked up that first gun, and took out after our first squirrel.
Personally, I think it's sad that so many hunters have lost touch with reality, and the true thrill of an actual "hunt". I guess we can thank all those magazines that reside beside our bathroom thrones.