I come from a similar background as you, Tarheel (5th SFG for the win). I have also been pretty impressed by the terminal ballistics of the M118LR projectile which is just a 175 gr. Sierra March King. Considering it is designed for accuracy and BC; not terminal performance, it does rather well. The M80 ball projectiles are 147 grain from I don't remember where and while they get the job done, they don't do it with quite the authority of the M118LR in my experience.
As for the 6.5 CM vs. .308 terminal ballistics, I don't have a lot of experience with that. However, as someone pointed out earlier the extra velocity of the 6.5 will give it the advantage on cavitation and hydrostatic shock which does most of the soft tissue damage. This advantage will increase with distance due to the 6.5s BC superiority. Add to that the greater chances of actually hitting what you are aiming at that the 6.5 affords you and the better choice seems fairly clear to me.
DOL