I don't have a 48, only a 350. It's an awesome rifle. Shoots where you point it, but it's overkill if you mainly punch paper. I cannot comment on the 48/54, but I know it's a rifle that I'll own one day....soon lol.
I think you should own both. hehe! The 48 would do both really well, I think you should get the 460 it's a fixed barrel and also around 1100fps. I prefer fixed barrel / under-lever guns myself. The side lever seems to make the rifle feel "fat" and front heavy. IMHO
Roald.