All the testing that I have done using standard match HPBT's (Sierra Matchking, Hornady Match, Nosler Custom Competition, Barnes Match Burner), the rounds either fragment on impact (probably due to the extremely thin jackets), or make a straight "ice pick" wound and do not transfer any energy or disrupt target material.
That being said, for long range hunting, you still have plenty of choices for match-grade accuracy that still perform great - The Barnes TSX, Tipped TSX, and Berger Hunting VLD are some that I've used to great extent on whitetails out to some insane distances.
Personally, I respect what I am hunting enough to ensure that I am going to be shooting it with a proper bullet.