Sako, Tikka, Armalite, and Van Dyke all make really great .338 Lapua Mag rifles and I think they are a great counter to .50 BMG as the Lapua Mag has only a little less distance and range, but just as much power, accuracy, and it is much, much lighter, and the majority of rifles chambered in it are equiped with 3 or 5 round box mags, instead of single shots like .50 BMG's.
This statement is
mostly accurate, but the .338 Lapua is well below the .50 in regard to power. .338 Lapua generates a bit less than half the energy of a BMG. While it is just as capable as an anti-personnel weapon, it is inferior as an anti-material weapon. The BMG can still punch 1/2" plate at 2000m.
The .338 Lapua is all but identicle to the .338 Ultra mag. While I have never fired the Lapua, I do own a .375 Ultra mag and the recoil fring 300 gr. handloads from my 26" barreled, 9 lb. rifle is downright BRUTAL. My only BMG experience comes from my armalite AR-50 and, between the weight and design of the rifle and the well engineered muzzlebrake, recoil is almost non-existent. However, despite the BMG's potential, you'll not find me humping a 5' long, 34 lb. rifle through the woods while hunting elk.
Hence the reason for the popularity of the .338 Lapua. It gives the sniper an extremely capable long-range weapon at ~1/3 the weight of a BMG rifle (and a lot less noise). You do not need to carry 5,000 ft/lbs to the 2,000 m mark to kill a human.
As to earlier comments regarding what will/won't stop an engine, you have to keep in mind that the engine is not exposed and the bullet must first penetrate sheetmetal, radiators & fans, pulleys, manifolds, pumps, etc. before it even gets to the engine block. If you were to fire dead center at the front of a 1985 Chevy with a small block v-8, you bullet will have to punch through quite a lot of aluminum/brass/cast iron/mild steel before it gets to the timing cover. I would wager that a .30-06 with a 162 gr. AP bullet would have only a marginal chance at accomplishing this. The vehicle will eventually stop due to overheating from coolant loss or the loss of the alternator belt after the accy. drive pulleys are damaged, but that could be miles down the road. For a quick stop, you need to damage the engine itself. Thus the logic behind the BMG as an anti-material weapon.
I would much prefer the BMG to stop a vehicle 1/4 mile from my position.
(of course, any rifle is capable of taking out the driver)