A lot will depend on the sights you're using, the gun itself, and the ammo, and how they all interact. I've seen results like you have described, but I've also seen better...and worse.
The method(s) you will be using to hunt also factors into the equation. If you'll be sneaking around in heavy brush and jump-shooting them when they get up to run, then 50 yards might be the longest shot you'll ever get. In that case, it makes no sense to outfit yourself for a longer shot, especially if it requires a large cash outlay for a new barrel. If you're going to wait in a blind near a game trail, or along the edge of a clearing, then a longer-range rig might more useful.
I'd recommend good sights, whether that means quality rifle-type iron sights, or a good low-powered scope or red dot (if legal). If your gun isn't set up for a scope/dot, you might be able to get a no-drill mount and use that for deer season.
Then, get a few different types of ammo, go to the range, and test them for accuracy with your gun and sighting system. After that, you'll have a good idea of the capabilities of your gun/sight/ammo combo, and what your max range on deer should be. Adjust your hunting method(s) accordingly, and you should be all set. Good luck!