7.62 is simply metric for 30 caliber... and the 7.62 X 51mm cartridge here is just slightly smaller than the 7.62 x 54 which was the Soviet rifle round up through WWII. Of course the 7.62x54 was very similar in power to our standard 30.06 cartridge of the time used in the M1 Garand.
After 50 years of pushing the smaller 5.56mm X 45mm M16 cartridge is the brass FINALLY admitting it is too small???
It's plenty effective to ranges out to 200-300 meters; in fact, a 5.56mm round out of a 16" barrel will still penetrate 1/8" plate steel at a distance of 500 meters. That will perforate a body if you strike it. It's a rather lethal round.
The issue is bullet weight versus crosswind. The 5.56mm drifts too much for accurate "reach out and touch some one" use at ranges in the 600+ meter distances. So a heavier bullet is desirable, hence the use of the 7.62mm.
Personally, I'd prefer to see designated marksmen using the awesome .338 Lapua; not a lot more kick than a 30-06, but confirmed kill ranges beyond 2400 meters. It has nearly the same lethality of the 50 BMG, but with much higher accuracy. IMHO, it's the perfect sniper/anti-sniper round, short of this:
Gotta like 1 MOA and 5000 meter range!
Looks like you’re a person to ask -
will a standard 7.62X39 round penetrate an engine block?
Nope, they’re admitting that bolt action sucks in a close range firefight.
7.62 has long been used for long range work.
Problem is urban use where that long range use may turn a corner and need to fire a lot of rounds short range real quick.