This isn't that complicated: More choices = better than less choices. And, everything's a tradeoff.
The ONLY thing that's really missed here by nearly everyone, it seems, is the fact the real issue is the "none of the above choice". It's just the "wrong question"..... The issue of how much better the .338 spectre is than either. And why oh why isn't *IT* the one talked about, made, and thus would have caught on bigtime, as I would have hoped (making everything surrounding it cheaper), as THE subsonic suppressed SBR AR15 round, rather than .300 BLK? Why doesn't the industry back the superior choice for this specific role? We can hope they eventually still will at some point, I suppose....
Using the same subsonic speeds (1,110 fps), you have a bigger, longer bullet in the .338 spectre, and unlike .308s, .338s hit one of the "sweet spot"s for BC (much like 6.5 and 7mm bullets do in another place along the caliber spectrum). The BC of 300 gr SMKs for example, is significantly better than its .30 cal counterparts (unless something has changed in the last few years since I looked at it). So, which would you rather have in a supressed, SBR'ed (and hopefully select-fire too, but either way...) AR15: A round that sends out a 180-220 gr bullet with a poorer BC, at 1100 fps, or a round that sends out a 250-300 gr bullet with a better BC, and better sectional density, at that SAME speed? The better SD and weight combine make for massively better penetration, and the better BC make for less range estimation error, and wind drift estimation error, extending your effective range. Recoil difference negligible. Yeah, you need a 1 in 6.5 twist for the 300s, but no problem there. A heavy duty 9mm can would actually probably work BETTER with .338 spectre than with .300 blk/whisper because of less gap on the way out. The only drawback is bullet and brass cost:
http://www.teppojutsu.com/338.htm
Maybe I'm missing something...
Sure, I can see the .300 blk as superior than .338 spectre *IF* –– and only if –– you're actually going to use it for supersonic (either solely or primarily). But why would you do that? .300 RAR is better for that, and for that matter, 6.8 is better than any .308s for that - much better in fact.
So for it's actual role of suppressed/subsonic/SBR, the .338 spectre is what SHOULD catch on.... why it doesn't, well maybe someone can enlighten me... (I guess maybe it comes down to that "just one gun" idea - ultimate extreme versatility, and the .300 blk hits the sweet spot there (??) - maybe; kinda makes sense. Problem with that is, we just ain't limited to one, so why? If you're on Arfcom, I guaratee you that you ain't got "just one" rifle. :) Or maybe it's the brass issue; that's more likely.)
The .500 Phantom is the ultimate here, with BCs up in the .8 and .9 range, but that's a different subject than the one at hand, as it fits into an AR10 style, but not AR15 style.
P.S. I'm building my .338 spectre on a turnbolt, however, not an AR.... if I can't have select-fire, too (which I can't - save SSAR15 unit quasi-select-fire), then I'd rather have the lighter weight and even less noise (no action cycling) that a turnbolt gives you. 8 or 10" 1 in 6.5 bbl, savage action, threaded/suppressed of course.... what's the heaviest-duty 9mm can on the market that could handle the extra powder/gas of the .338 spectre at subsonic?
Be sure to watch the video at teppo jutsu of the full auto suppressed .338 - I dare you to watch it and not drool and vow to have one someday... :)
As far as use beyond fun or poaching..... Well, even if not a single state makes hunting with cans legal, you've still got an actual use other than illegal hunting, potentially.... If the ess hits the proverbial eff, well, you just might need a stealth assassination mission capable weapon. And you ain't gonna wanna leave brass lying around if you do (hence the turnbolt making more sense). Ess hitting the Eff situation is of course, extremely unlikely for an extended period, such as an illegal occupation that would necessitate such missions - but it's not entirely out of the question. Or is it? :)