Finn Aagard wrote an article a couple of years ago on the .308. He recommended using a 165 gr bullet for everything, varying the bullet construction for the game. In other words, use a tougher bullet for tougher game. Work up a good load with a 165 gr partition or similar, and go Elk hunting.
I am going the opposite way from the latest big boomer trend, having just sold my .300 Win Mag and purchased a 6.5 Swede M70. I would certainly shoot an elk with the Swede and the right bullet, putting it in the right place.
Just my two cents,
Tom