Probably the most accessible write up of this subject is by N Foster in his Effective Game Killing article.
Effective Game Killing
To be honest, I am one of those that makes the mistake of getting hydraulic and hydrostatic mixed up.
I haven't
fully bought into it, the hydrostatic part. When I get bang flops, its almost always because I've hit a very specific part of the anatomy that I know controls or significantly influences CNS and hence locomotion. And I can do that with a .243 100gr bullet at 200m or further no worries, so that doesn't fit Foster's criteria of bullet diameter, weight or velocity (its a relatively mild load).
The last couple of deer I shot were with the .308 at around 150m, and they both instantly collapsed. Both had the "junction box" or "fuse box" (aorta / pulmonary arteries / aortic & autonomic nerve pathways) taken out with a very soft, fast expanding bullet (Speer 165gr BTSP) which didn't exit in either case, therefore dumping all of that ~2000ft-lbs right on the lethal spot. When I gralloch the animal like that video of the one I posted a little while ago, the organ destruction is massive, without the irritation of a massive exit hole and peripheral meat all bloodshot and wrecked. If you can put the bullet in that fuse box position, and get the bullet to open and stop, I'm sure there must be one helluva energy wave through the vitals. In the super slow-mo videos, you can see the ripples of energy post-impact in the hide of the animal, when they are hit really hard. There's a good example on a stag with a 7mm Blaser Magnum, showing the shock waves through the front of the torso. It collapsed right there. Hardly surprising.
Foster suggests that the hydrostatic shock puts them down, and the wounding kills them (either direct or through hydraulic wounding like the gel photo earlier). I'm not too fussed, my primary motive is to get them on the deck as close to where they were standing when they were hit as possible, if its one or the other or both doesn't matter.
Its an interesting subject. No substitute for that fuse box shot though, guaranteed bang floppery.