Haven't used the .270 on elk, but have used it on a LOT of deer and hogs (up to 400 pounds). In my experience, the one semi-failing of the .270 Win. is a lack of penetration on really close in shots when using the 130 grain bullets. Just a little too much expansion at times.
I've shot quite a few deer with the 270 and 130's and a few at 25-50 yards with plain old SPs. All blew right through. If you're not getting penetration with a 130, I'd say it's more of a bullet/placement/shot choice issue rather than a cartridge one.
