Good. This is like the .45 vs 9mm vs .40 S&W argument. Only problem is rifles are a much different animal compared to pistols.
Within 300 yards all of these rounds are devastating b/c of hydrostatic shock. (your body's organs being displaced by the velocity of the bullet). Past that range, the .223 Remington is like a super long range .22 long rifle.
As for the .30-06, and the .308 Win, they have lost a lot of muzzle energy, but they still are capable of very devastating results, partly because of the casing, and powder propelling them, and also partly b/c of the fact a 150, 168,200, etc. grain projectile has a certain inherent ammount of power b/c of it's weight (vs. 55 or 62 grains of a .223). The .308 Winchester 168 grain HPBT is capable of .40 S&W muzzle energy out of the barrel at
600 yards!
It all comes down to what you are facing. The .223 will cause hydrostatic shock at close range, and at even closer ranges will break up in the person causing shrapnel to lodge in wound paths, but downrange will drop off in power (even if not accuracy).
The .308 will go right through a person within 100 yards (although you still get hydrostatic shock), but will have alot more muzzle energy at long range.
G Gordon is correct, past 300 yards. However, wrong past that