You are right - almost!
Lefteyedom is right - it matters who is hunting with the .410. I would not hand one to an inexperienced hunter and say "Go kill you a deer". As for his first shotgun - Some of the older 410 bolt actions are junk - had one blow up on me after 300-400 rounds, it seems the HS went South and that was that.
I recently bought a new Saiga .410 and with the Russian Ammo it is fantastic! Low power is not an issue here as the Barnaul, Brenneke, ammo is great: Check out
http://www.barnaulammunition.com/shotgun.htm,
http://www.brennekeusa.com/web/pdf/Magnum410ga.pdf
This gun is fun to shoot and shoots straight. The Iron sights came through "Spot on" and I can plink with this thing all day at ranges from 25-75 yards. At 100 yards I have sported 3" groups.
My son has a NEF .410, and with the Brenneke slugs it shoots great! With only the beaded sights we can manage 2" consitent groups at 20 yards.
The beauty of the .410 is it's range of use:
Squirrels, Rabbits, Partridge, woodcock, clays, plinking, Fox, Coyote's, Deer, self defense - and more, all from one gun shooting different rounds. I am working on a Double slug round that put's both slugs into a 1" or less! group at - ready for this - 50 yards! A killer 'yote round for New England Predator hunters. Low Pellet damage, no pass-through shots, less damage than a smallbore rifle or Buck shot rounds.
Thanks for the feedback Lefteye...