What about a 7mm-08 compared to the 7mag.
I hunt mulies and elk mostly. So, I probably wouldn't lean that direction, except for a youngsters perhaps.
Even for elk, the 7mm-08 will do it's job within it's limits, just like any cartridge.
You just need to decide what limits do you want to place on your hunting with respect to range and shots.
After it's all said and done it boils down to this.
There's no substitute for a well placed shot.
