The Lott has more horsepower, but the Win is more commonly available. BUT you CAN fire the Win in the Lott (like a .38 special in a .357) so if you are being worried about being caught without, you are safe with the Lott.
The Lott is a slightly lengthened Win and you can fire the latter in a Lott chamber.
No limit on what can be chambered in the #1 because there's no magazine to modify. One company advertises huge cartridge conversions, like the 45/110 (3.5") etc.
The 458 Lott in a Number 1 is quite a handfull. I have a bolt action in 458 Win and a couple of guys I shoot with have tried #1's in the Lott. It's a "lott" more cartridge, with the requisite recoil. You may want to seriously consider adding some weight to the #1 in the butt.
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