I could probably fall in love with a Ruger 77 International in .338 Federal or .338-06 If I saw one. Maybe a Remington model 7 in .338 Federal too if nice wood.
I've shot a bunch of deer over the years with larger caliber rifles including 8X57, .348 Win., .358 Win., and .35 Whelen. I get more "bang-flops" with these than .300 Win. Mag., .300 WSM, 30-06, .308, 7X57 .270 Win., 6.5X55, and .243. Usually used slightly heavy for caliber bullets, all handloads. I've only shot two deer with the .45-70 and .270 Win., but with positive results.
I realize this is not "proof" of anything & just my own experience at short distances in heavily wooded cover. But the reason I like to hit an elk "hard" is to limit the distance my friends and relatives have to drag out an elk for me. (by myself, I can drag an elk about two inches, maybe farther thirty years ago.)
So, what kind of .338 Federal rifle did you get? Give us a range report, huh?