Last I heard, a few years ago, my friend John Haviland's sons had killed over 30 elk with the 7mm-08, using various bullets in the 140-grain class, at ranges out to 400 yards. They've never had a problem, and the elk include everything from cows to mature bulls.
Debating the use of the 7mm-08 on elk is a lot like debating the use of the .270. Somebody I know who's killed a similar number of elk (including some big bulls) with the .270 once said: "If you can shoot, the .270 is an elk rifle. If you can't, it isn't."
The same applies to the 7mm-08.
Re-read this whole thread,which was a good one.
This seems to sum things up nicely.
