The .223/5.56 is an excellent choice for deer size game. I wouldnt hesitate for 1 second on hitting the field with one in hand and going after deer. The one question I didn't see asked that may possibly have an influence on the correct answer to your question is, what is the twist rate of your rifle. most .223 chambered rifles have twist rates around the 1-12 range which is designed to stabilize lighter bullets in the 40gr to 55gr range. some 5.56 chamberings offer 1-7 to 1-9 to stabilize the heavier/longer bullets. the heavier bullets would be most suitable for the deer size game and the lighter 40 -55's left for varmint.
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