The original question was if the Beowulf would be around for awhile and I hope everyone can agree that it will be around and so will the 458 Socom. It all comes down to what you personally like. I am awaiting the arrival of my Beo upper from Umlaut Arms (precision upper, LE threaded muzzle, AA Muzzle brake, Samson M Rails, Magpul XT rail covers, and, YES!, a ejection port cover engraved with the words .50 Beowulf.) I also have 200 rounds loaded and waiting for it's arrival.
Deciding which is better (Socom vs Beo) is a moot point. Please read the FAQ Item #5 at teppojutsu.com. This is the person who developed the 458 socom talking (listed below is the answer to You mentioned the .50 BeowulfTM. Which is better, the .458 SOCOM or the .50 BeowulfTM?):
This is one of those debates that neither side wins. Both cartridges are very similar, yet they are quite different. We had access to some of the information on the predecessor of the .50 BeowulfTM when we designed the .458 SOCOM. We designed it the way we did for very specific reasons. I admit I cannot be impartial, but I will give as honest a comparison of the two as I can:
Rim size – the SOCOM rim is the same as the .308 Winchester (7.62 x 51), the Beowulf rim is the same as the 7.62 x 39 M43 cartridge used in the AK-47. The B rim is easier in that you can use existing bolts for the AR. The S rim is easier in that there are hundreds of thousands of (old) bolt action rifles that use this same rim and that could be retrofitted to the SOCOM (all the old Mauser rifles ….)
Case length – as mentioned earlier, the B is 4mm longer than the S. A lot of this extra room is taken up by the body of the bullet anyway, so it does not gain you that much.
Headspace – the B uses the case mouth, the S the shoulder. There are those that feel using the shoulder offers inherent greater accuracy potential, but both rounds are capable of just about the same accuracy. Both are intended to be used at the same maximum range as well, so it really does not matter much.
Bullet selection – this is where the S has the B beat, hands down, due to large variety of .458 bullets compared to the .500. But with the advent of the .500 S&W, the B is starting to catch up.
Cost/Selection – Before Rock River got into the game, the S uppers were all custom jobs whereas the B uppers were more "semi-bulk". The S uppers are available in just about any configuration you can imagine, but that comes with a price tag. The B uppers come in a certain number of configurations but with a lower cost and they might be a little easier to get (again, before Rock River took up the .458 that is)
Power – Let’s be honest. The difference between a .458" bullet and a .500" bullet is a whopping 0.042" or a hair under 3/64". If you hit anything with either, it will be hurting or dead. That 0.042" won’t matter a bit. Both have just about the same muzzle velocity so just about the same power. The B has a little more room for powder and with the slightly larger diameter bullet will edge out the S. But the S has bullets with much better BC available so it should out perform the B at distance.
So as you can see, the difference is really not that big. A lot of it depends on personal preferences, or perhaps what your budget is or whether you already reload or similar considerations. You can’t go wrong with either.