.177, .22, or .25 ?

The feathers and the thick breast bone can stop a pellet fast. Yes, correct about the shed tin being damaged with high calibers and high fpe.

Lower calibers and hollow points that quickly expand and expend their energy quick, and are accurate, may be what is need for better pigeon hunting experiences. (H-points are never as accurate as Diablo shape pellets, though.) That is why I've been waiting (not patiently) for more people to post there x-liner and Neilson slug results....hint. 

Matt's info is good but we need more user info before we jump into the .22 hollow point slug world.
 
I grouped the H&N Hunter Extremes at 100 yds with my ST-X liner, and they were terrible....8 inches if I remember correctly. 50 yds wasn't "too" bad.

But they can't compare with the diabolo pellets for accuracy at distance. If I could get my hands on a Slug-X liner I'd definitely be testing it out extensively at the farms.

I can pick my distances there. One of the farms I shoot at has nothing for hundreds of yards in two directions at the silo. I would love to try the NSA slugs in my Wildcat.
 
You figure if you're shooting at pigeons at 50 to 60 yards you have to have accuracy at about minute of angle. So that's about 1/2 inch group at 50. If it's more then that you can't determine if a miss is due to the grouping or lack there of or a miscalculation of the conditions. It really bugs me when I'm chasing the wind only to find out it's not the wind it's just a gun or bullet that isn't grouping. I knew a fellow who was an absolute master at getting the rifles tuned in with accuracy loads. He loved to shoot prairie dogs. It was nothing for him to consistently hit out to 400 yards and I saw him shoot out well beyond that. Of course he was about as close to a professional as I've encountered. He's gone now but his average day was shooting in the morning and reloading in the afternoon. He bought and sold rifles. Mostly Remington 40X. He was a good shot but a bit of a jerk of a man. He wasn't into helping any one. Very competitive and he'd look over my shoulder and say "you should have made that shot" without advice or instruction. About the only shooter I've encountered who wasn't willing to help another fellow in the sport. He would spend what ever it took to have the best equipment. He purchased a range finder for over $3000 just for ranging PD's Now that was 20 years or so ago. Went with him one time and he had at least 6 or so Remington 40X rifles in his truck to shoot. Never offered to let me shoot one. Not real fond memories of the fellow (but he could hit a prairie dog out there I tell you.
 
Dhart, IMO, the best round for hunting small game is the .25. It has the oomph and there are good hunting rounds available, like the H&N Sport Baracuda Hunter Extreme hollow-point. The .25 Hunter Extreme also has a BC commensurate with the JSB. Plus, the heavier round bucks the wind better. The co-founder of this forum has a few words to say on the subject:

https://www.youtube.com/watch?v=DImiWYmrGsk&t=31s

I can't really speak to target shooting. I'm strictly a hunter. (No plinkin' or paper-punchin' for me!) I suppose the best caliber for that would be the .177. It has a flatter trajectory due to the higher velocities. If you shoot indoors or in windless conditions, the lighter weight will not be an issue. The RAW BM500 MKII .177 is match-grade. It is very heavy, both in stock and barrel, which gives stability in shooting and reduces barrel oscillation. It has a Lothar Walther Polygon barrel and indexing thimble. RAW has high-quality air regulation, which yields a low SD (very accurate). Plus, it's easy on the eye!

https://www.rapidairweapons.com/xcart/product.php?productid=17756&cat=262&page=1
 
I own all 3 and I love my mrod .25 because I can hun, plink or punch paper. I grew up shooting .177 pumps and springers but after my first .22 springer I never looked back. I Have noticed though that a lot of the nice .22 pcp aren't that far off from stock .25 pcps in the mid range as far as fpe. like the .22 is pushing 30 fpe and the .25 is only doing 5 more fpe. despite being larger the gain seems to drop off between those 2 calibees imo.

I would say go with the .22 since you already have a .25 the ammo is not much more than the .177 and you have a large range of options, doesn't use as much air as the .25 but has a way greater versatility than the .177. Sure a skilled shooter can take bigger game with smaller rounds and not worry as much but for the average joe it's nice to know if your a little off you have the punch to take the target.