I think with modern bullets/ powders it can take the place of;
.30-06
.308
.338 Fed
.338 RCM
.358 Win
............
Just by switching to Euro loaded ammo you can get much better performance. They understand the difference of .318 - .323".

Thar said, the older Federal 170 gr. soft point ammo will just drop whitetails very well. About high end .30-30 performance.