The main reason was that you don't have to modify your AR mags mags for the SOCOM like you do for the Beowulf. Not to mention it puts 300gr bullets downrange at 2100fps (500gr at 1350)
There was also discussion of the possibility of manufacturing new 10 round SOCOM mags that just happen to hold 30 rounds of .223.
Check out Tromix.com and Teppojutsu.com if you haven't already. Teppojutsu invented the 458 and a bunch of other cool stuff like the .338 specter and .510 phalanx... muahahahaha. Marty is a good guy too.
Tony at tromix builds the same kind of stuff... 458, 50, etc. He also does a .17, .20 and 440 corbon AR. Very fast work, he had my upper rebarrelled in 2 days, professional and very high quality. His .20 Tactical does something like 4300fps with 33gr bullets and gets 100yd groups you can cover with a dime.
Tony and Marty share work sometimes, like they did on my AR. You can't go wrong with either of these guys.
Both the Beowulf and SOCOM are great, I just prefer the SOCOM. One thing is that you can't get a Beowulf any shorter than 16". 440 corbon goes down to 13.5" and 458 goes to 10.5" (I have an extra 10.5" .458 barrel if anyone is interested.)