If you live in elk country and have horses you certainly don't need a 300 Weatherby for elk. When you pay several thousand dollars for guided hunts on private ranches most deer calibers will serve you well. If you shoot 10000 rounds a year and carry a 14 lb. 1000 yard Match rifle wearing an NSX you can pick a bunch of calibers that work just as well.

For public land hunters who might get one opportunity at 500 yards or get tag soup - the 300 Weatherby is as good as it gets. The down range power and flat trajectory kill elk with much better performance and stopping power than a 30-06 or 7 mag.

You almost can't be more cost effective than the 300 where an excellent, accuracy guaranteed rifle is available new for around $600 and used rifles for much less. Brass is widely available and Weatherby factory 180's can be had for less than $40.

Really cool 264 Win Mags are great but try finding reasonably priced rifles or buying off the shelf ammo almost anywhere. Super 338's are probably the ultimate long range elk killers but aren't practical for most shooters and most wallets. For my money the 300Weatherby is the best bang fot your elk killing buck.