What is best at breaking bone on thick skinned game ? Velocity or weight ?
Depends on the game as others have written...
Frederick Selous was the quintessential, large dangerous game hunter of his day. He used everything from a 4-Bore rifle (1700 grain 1.00 caliber round ball, lead) that launched it's bullet say 1500 fps, to a .461 Gibbs (500 grains at 1300 fps lead bullet), but what he said he really preferred after all his years in Africa as his favorite load was a .450 Nitro Express...465 grain round nosed bullet doing 2100 fps.
So that answers the basic weight to velocity question...the guy liked 25% of the weight of his 4-bore rifles, doing about 25% more speed.....but that's very very simplistic. Probably too simple for this day and age.....
Because this is the 21st century, and you have all sorts of lovely bullet designs which will increase the diameter of the bullet at impact and thus increase the minimum damage while holding together, tailor the penetration to the game which you are harvesting, and you can get more velocity if you need that, too.
You can balance effective range (for you and the terrain) to recoil, to bullet weight and performance, and price.
Does a hog, elk, or moose know the difference when it's hit with a well placed shot if you used a .416 Lott, a .45-70, a .35 Whelen, a .338 Lapua, or a .30-06 ....all other factors being equal??
LD