But how much Velocity in Practical terms will I lose?
I do not own both so I can't offer a comparison.
Since I already have 454 Casull s the main advance of the 460 is Velocity and accuracy, so why compromise that w 5 " barrel
If you already have a 454 in your lineup, then hands down go with the XVR. I did not have a 454 when I bought mine, so to me the V was a good compromise for my purposes. You already have that velocity category covered. A longer barrel will provide enough velocity difference that it will make sense.
However,
I plan to hunt deer and hogs at up to 100yards
If this is the intended use, your Toklat is perfectly adequate IMO and far more handy. MAybe a bit short, but at 100 yards on game that size I think you'd be fine.
The V is LOUD and the blast is something to behold. Knowing what I know now I would go with the XVR.
True. Mine will produce a fireball the size of a basketball that is visible in full sunlight. While it is kind of funny, it just means the powder isn't being fully burned and you are sacrificing velocity.
I have always ruled out the 500 Smith & Wesson to the price of ammo and it just seems excessive.
If you aren't loading your own 454, 460, or 500 ammo, then you are severely limiting yourself. Just saying.
Since now I'm considering a 460 what would a 500 Smith & Wesson actually DO the 460 can't?
It'll throw A LOT heavier bullet, but on deer and hogs it's totally unnecessary.
What appeals to me about the 460xvr is it's reported to be reasonably smooth shooting and of course the fact that it also shoots 454 Casull and 45 Colt like my Casull s do,
I'm going to recommend you erase this notion from your mind as a benefit.
Because,
All .460s will shoot the lesser .45s (.45 Colt, .454 Casull), but I have never met one that shoots them really well from an accuracy standpoint. If you need less, downloading is the key.
I can vouch for this. I used to buy 45 Colt and 454 to shoot out of my 460V because it was available at the store. 454 shoots alright, but not great. Some 45 Colt ammo I shot was ridiculously inaccurate from my 460 mag. I'm talking like 10 inch group at 20 yards kind of bad. Some loads were ok, but only for plinking. There is just way too much cylinder to jump with 45 Colt in a 460 revolver. Seriously, put that notion out of your mind. If you buy a 460 magnum, then shoot 460 ammo out of it or you're going to be disappointed. And I'd like to throw a multiplier on Max's comment. If you want lower power 460 ammo, downloading is going to be a much better option. I do not buy any factory 454 or 45 Colt ammo any more and will not shoot them from my 460 magnum because it's a waste. I will save the brass I have and utilize it in an appropriately chambered gun in the future.