The 223 is a VERY effective close range deer caliber, in spite of many think. There is a tremendous amount of shock transferred on impact.
As for the stinger, and the DRT, it may have happened, but in my opinion, it's a one in a million shot.
As for the OP's question, I have to say if it's legal, use it BUT, if these deer are more than yearlings I would most definitely limit it to head shots and close range. The reason for the close range is less chance of a bad shot since a deer turns his head often, much more so than moving his body.
As for bullet, in spite of what many think about the FMJ and penetration, I would use a 40gr HP or similar weight (or heavier) expanding bullet. I'd stay away from any of the varmint type bullets. The 40gr hpis the equivilent to the 165gr in 30 cal. It's about the ideal weight and design for most all you do with the WMR.
If you shoot a deer in the side of the head even as far away as 50yds, you will not recover the bullet. They penetrate far more than most believe.
All that said, a larger caliber is preferred, but as one poster said, if it's all you have AND you are an excellent shot and patient, then do it.
Is there a chance of losing a deer, of course, but name a caliber someone has shot a deer with and there has NEVER been one lost.
I've shot arrows with razor sharp broadheads clear through deer, I have seen others do it, and the deer have been lost (one was tracked after a 3hr wait, and followed for nearly 3 miles). I've seen deer shot with a 30-06, broadside, run for a half mile (one lung hit) before falling, and if it were not for outstanding, and persistent tracking they too would have been lost.
Deer can absorb a lot of trauma and not die. Heck, there have been men that died from being shot in the shoulder, and no major arteries hit. The shock and trauma alone were enough. On the flip side, there have been guys (like Audie Murphy) hit 5 times and still keep going. Look at the lady in AZ that was shot completely through the head with a 9mm at close range and she's making a miraculous recovery (I hope it a full one too). There is no way to guarantee any caliber, short of a 40mm grenade, that will always kill them.
When I say close shots, I'd keep mine under 30yds, and head shots only. Now if it were a yearling, and legal, I'd go for a heart/lung shot. You punch a .3" to .5" hole through both lungs of a deer, and you will eat venison.
I keep my 22WMR mainly for a survival rifle. In the case such was necessary, it will be my main deer, and pig rifle.