Last year I got a .243 for the same idea.... coyotes and other varmint with a slight hint of using it for a deer. My girlfriend decided she wanted to try hunting and what better gun to get her started on. Well I Reloaded 85grain triple shocks with H4350 ( not sure the amount of powder would have to check my reloading charts) and she downed her first whitetail buck in 07 at320 yards and WOW the damnage the buck went 80 yards, complete through and through i was impressed with the bullet... That is .... untill this year....
I was a huge fan of the winchester Fail Safes and found out that they discontinued them and made modifcations to them and came out with the winchester XP3. Bought a box of factory 95grainers and WOW i mean WOW.......... Check out this thread i started
http://www.outdoorsmenforum.ca/showthread.php?t=22695
Can't seem to get reloading bullets of the XP3 bought them factory they are pricey but well worth it in my opinion.
For coyotes i loaded up 58 grain v-maxs with h380 i believe, pushes them out at about 3750-3800fps, and usually no exit salvaging the pelt. Shot yotes from 15 to 400 yards with these bullets, even at 15 yards the bullet is at such a high velocity that it enters the pelt and then just fragments inside without exiting.