Yeah development has been crazy, even though these high cal airguns were made for quite some time already (custom work, and the Koreans, who use them for hunting, were early on the market with those things too).
I've seen quite some footage of these soft (pure lead) projectiles going straight through a hog or deer.
In a lot of European countries there's quite severe power regulations, so there's a strong focus on accuracy here (Field Target and Hunter Field Target competitions, sub 12 ft lbs, as well as 100m benchrest competitions long before 'Extreme Benchrest' and other competitions started in the States). Luckily, at least for the time being, laws in Belgiums and the Netherlands are quite lenient.
There's also semi and full auto variants now... and development of 'solids' (as opposed to diabolo shaped pellets) has been really succesfull.
They are usually quite expensive to buy, especially the quality ones, but cost per shot is almost nothing... Although pellet/solid prices have been increasing, just like all the rest.