JR,
Waverly gave you some good info. The WSM case is great for 210 vlds, but I would caution you about trying heavier bullets. We tried everything above 210s when the case first came out and found that the 210 vlds were the best choice.
As far as barrel life, I have not wore one out yet with the 300 WSM. The first gun was a HG with a 1.450" Hart and it went over 4500 rounds and was still very competitive. I had Clay Spencer put a new one on it 5 or 6 years ago and I haven't even shot it yet.
My biggest issue with the cartridge is finding quality brass. I used Winchester for all of the shooting that I did, as I didn't like how soft Norma brass was, but others have done well with it.
Good luck,
Danny