First I'm going to assume that you have a 1 in 10 inch twist rate on your barrel which is probably right. A light bullet will have a flatter trajectory and a higher velocity than what you will get from a heavier projectile, but the heavier projectile will deliver higher terminal ballistic values (a very good thing when developing a load to shoot live targets with) much farther down range. I would recommend loading heavy for caliber (140 to 160 grain bullets = high sectional density) that are either core bonded, or mono metallic, with the highest ballistic coefficient that you can get.
Hodgdon Powder Co. website has a section devoted to recommended powder charges for various calibers including the 270WSM.
guess I have not hat mine long enough to start working up a load but I do like the way it is shooting factory loads, both the win balistic silvertip (130) and the accubonds (140) group alright... under 2 inches while shooting off my arm... I will know more in a couple weeks after I start loading but I would not be afraid to hunt with it now using either weight bullet.