First off, you don't really need a premium bullet for deer. Most premium bullets are what is called "bonded" and that type generally don't expand quickly enough to do a lot of damage to the vitals on a deer because they are designed to go deeper on elk or moose. Anyway, go up about 1/3 to 1/2 way on the body just behind the front leg and that will take out the lungs and result in a quick, humane kill. A more forward shoulder shot will also do the same thing and generally knock a deer right off it's feet, but the result can be a mess when you hit that shoulder bone. A shot through the lungs doesn't ruin more than a couple pounds of meat and you don't have bone fragments to deal with when the animal is processed for consumption.
This is a link to an article on the DOW website under Elk Hunting University addressing shot placement for elk with a rifle. I know you were asking about deer, but I feel this article addresses it fairly well.
A 150 gr. bullet will do the trick. The first deer I got was with a 115 gr. bullet out of the .257 Roberts.
Don’t let it fool you, late season food plots do work. Many people believe that the only time to plant a food plot is during spring but this is not true!! This spring and summer like many people I worked all the time leaving little time for the outdoors. That time was spent scouting areas and hanging tree stands. I didn’t think that I would be able to plant a successful food plot for the 2010 hunting season. But boy was I wrong. I had never planted a fall foot plot before fall 2010, and I...