Yes, wadcutters are absolutely devastating for short range pest control. Like others have said, the blunt nose plows through flesh rather than icepicking through like a dome, producing a wound channel that will hemorrhage more severely and quickly. That's the mechanism by which it dumps more of its energy. A shot that is slightly off the mark is therefore more forgiving.
The energy level you describe is more than plenty for any kind of small pests and game like squirrels (gray or fox) or pigeons at any distance you could reasonably anticipate shooting...meaning accuracy will fall apart before it loses enough energy to become ineffective.
There's a recent thread here dealing with knockdown power in which I posted this demonstration taking a gray squirrel at 31 yards with a wadcutter at 8fpe muzzle, 4.6fpe terminal energy. No doubt this is at the low end of the spectrum so it wouldn't be a good idea for common field conditions, but shows how devastating it can be when the placement is good.
https://www.youtube.com/watch?v=TMC04JPmWns