GAJoe--I have lost this post two times, so I'm hoping the third time is the charm!
Anyway, I concur with glenn asher's statement about the "iffy" accuracy of the 40 gr. V-Max. That was my experience out of my Savage 12VLP. I use the 39 gr. Sierra and the 40 gr. Nosler. This past winter, I used the 39 gr. Sierra as my coyote bullet too. It worked quite nicely--no surface splash wounds, coyotes "usually" dropped in their tracks or did a few death spins and fell over. The 39 gr. Sierra is a bit more accurate out of my rifle, but the load I have worked up for the 40 gr. Nosler BT gives me nearly the same accuracy and a bit better hang time and acrobatics out of my PD hits.
The load I have worked up for the Sierra gives me about 3,900 fps at the muzzle and the Nosler load runs out at about 3,870 fps at the muzzle. My point of impact with those two loads is almost identical so I don't have to worry much about point of aim if I switch between those two bullets.
I would suggest that you plug in the BCs, identical muzzle velocities and identical temperatures, barometric pressure, elevation, etc. for those two bullets into a ballistics calculator such as
http://www.eskimo.com/~jbm/ballistics/traj/traj.html I think you'll find that there isn't enough difference in drop or wind deflection to matter much. If your 40 gr. Nosler accuracy is good, it may not be worth wasting the time and reloading supplies trying to find an accurate load for the 40 gr. V-Max.
Here's a three-photo sequence of some prairie dog acrobatics from a 100-yard shot out of my 12VLP with the 40 gr. Nosler BTs from July 2, 2007:
As much hang time as the prairie dog had and with all the "chunks" flying out, especially the big chunk flying out to the left, he came down almost exactly where his point of takeoff was from!!!
I'd probably stick with the 40 gr. Noslers if I were you unless you have an urge to use up more barrel life, powder, primers, etc. in a quest to find the magic load for the 40 gr. V-Max, that might not turn out anyway. However, you'll never know what "might have been" unless you try!!
