Kachok,
I wasn't advocating shooting deer or elk with a 243 at 700 yards, just using that as an example to illustrate that plain old bullets work fine in normal situations. Premiums are helpful in "extreme" situations. While few, including myself, would advocate shooting at these ranges, it has been done. And is as good an example of "extreme" shooting as any. With the right bullet, and at reasonable range, elk with a 243 is not "extreme". Elk at 700 yards with a 243 is, and it has been done.
I also didn't specify any particular bullet. And while you may not need a premium bullet, they certainly don't hurt. The extra cost is a tiny fraction of the overall cost of hunting and a good argument can be made for using 1 quality premium bullet for every application instead of having 3-4 different loads for different uses.
For the OP's initial question any standard bullet that shoots well in his gun will be fine most of the time. But there is no downside to using a premium if you want to do so. They are better bullets, and might give you a slight edge if you happen to find yourself having to take an unplanned shot at an odd angle, at longer ranges, or while hunting game larger than deer.