Here was the controversy:
The original intent was to fire a 500 grain bullet at 2150 fps. Why? Because ever since about 1900, it had been understood that that was good for anything that walked the earth.
As it turned out, some of Winchester's ammo, while advertised to do this, would not. Either the powder clumped together when kept in humid climates for 10 or 15 years, the bullet was glued in with glue that melted and ran into the powder, or the Winchester loading machines were improperly set up and a bunch of powder slopped out of the cases. I have heard all three theories.
Anyway, Winchester cut the velocity to about 2000. The .458 Lott was invented to get the original velocity.
Today, with better powder than WW748, no glue (try crimping), and no sloshing out of the case, it's no trick to get 2200 fps with 500 grain bullets. I load 450 grain bullets to 2250 because flat point 450 grain solids will penetrate deeper than round nosed 500 grain soft points, and I don't need any more velocity.
The sectional density of 400 grain bullets is a bit low for penetration on elephants.
As loaded by Hornady, the .458 Lott with 500 grain bullets only gets 50 fps more than the .458 Winchester.
So I don't think there is any controversy any more.
Enjoy yourself. It's later than you think. Indy