A barnes 70gr TSX will produce huge penetration but might not be as effective as a 62gr from the same design
fired from the save casing/gun as these rely more on speed to activate and therefore the 62gr might provide
a better balance between penetration and expansion.
This comment makes very little sense to me. There are two flaws here;
First, you claim that bullet weight doesn't indicate how well a bullet will penetrate but then you say that, given the same bullet design, the heavier weight 70gr bullet will penetrate better than a lighter 62gr bullet.
Second, you are talking about balancing penetration and expansion needs without mentioning what the medium is nor what your goal is. If you want to kill a squirrel really quickly then I'd bet that we could agree that almost any bullet that weighs enough will do the job but if I'm trying to drop an elk at 300 yards then I need to do a better job of picking the right bullet, one that wont expand as quickly but will penetrate through thick muscle and bone would do the job best. You might also need less expansion because you want to take a fur bearing animal without destroying the fur, in that case you'd probably want a fairly fast, light bullet that wont expand. I don't need the TSX style bullet to go fast if I put it where it should go, I only need it to go fast if I want it to expand.
It is not just about energy at the muzzle that is normally a meaningless
measure but how those bullets behave in a variety of situations upon impact in the real world scenarios
and applications.
Energy at the muzzle isn't ever meaningless because no matter what bullet you use (and as you pointed out) they are all rated to perform within certain parameters, parameters that are normally defined by the bullet's speed at time of impact because speed determines the amount of energy the bullet will have on target. Since the energy on target determines how the bullet will perform you have to be cognizant of how much energy you have at the muzzle.
You also haven't mentioned the fact that heavier bullets retain their velocities much longer due to their increased momentum. So I'll always send a heavier bullet out of the muzzle as long as I can start out with the velocity and energy that I need for the job.
It seems to me that your perspective is influencing your interpretation of what was asked. I think I understand what you are trying to say but you are all over the place with your reasoning. It seems to me that you are viewing the situation as a question of how well a bullet penetrates living tissue and that's not what the original poster was concerned with. I'm sure that most of us appreciate what you are attempting to say but honestly it's not that complex of a question. In regards to how much sheetrock a bullet will penetrate, yes, weight is pretty much all you have to worry about.