I haven't used mine, but would. I shoot 140 grain Barnes XLCs though, so I don't worry too much about good penetration. I wouldn't try to stretch the range. I like to get as close as possible anyway, so that wouldn't be a limitation to me. I've never hunted elk with a rifle (only bow and muzzleloader), so take this for what it's worth!
Edit: By the way, the 6.5X55 has proven itself as a great hunting cartridge on large moose in Scandanavia, so why not elk?