The 338 Federal sounds like a good cartridge based on what I've read. If it gets chambered in the right rifles, if it is marketed well, and if it gets good press in the gun rags, it should do well. If not, we have another 358 Winchester on our hands. The 358 was/is a great round that never gained the following it deserved.
I guess one could argue that another centerfire rifle cartridge really isn't needed. Personally, I'm glad to see Federal offer this new round. A little something new to try and discuss or cuss.
Someone besides Sako should chamber this cartridge if it is ever going to gain a foothold in the USA.