Steel jacketed ammunition has been used for many, many years without deleterious effect in many types of guns.
I routinely shoot Wolf ammo in my 527 {box upon box of it...} and anticipate the barrel will wear out at some point, whether I shoot gilding metal or steel!
My bigger concern for your situation would be the use of the 154 grain bullet for deer. You may want to do a search here or elsewhere and see what you come up with. As I remember, those bullets have a reputation for performaing like FMJ's, refusing to open up consistently at x39 velocities.
Cutting and pasting from my other post; "This little rifle is a workhorse around here. A great rifle for training the kids, and so far it has accounted for 2 deer, a couple stray stock chasing dogs, a coyote and some ground squirrels."
The two deer were taken with a handload using Hornady 123 grain Spire Points, the rest with Wolf 122 HP. In the future, at 100 yards or less, I'll just use Wolf HP for everything.
Keep your shots to within 100 yards on deer and I think you will be very happy with the performance of the Wolf HP round. Probably the 122 grain Soft Point round also, but you might want to do a bit of personal research using the 154 grain stuff before you stick a deer with it.
You have a superb rifle, its only fault being, in my experience, weak magazine springs that do not always raise the third, fourth or fifth rounds high enough or quick enough to be stripped by the bolt when the bolt is worked vigorously.
If CZ fixes that they will have perfection in walnut and steel.
