The 340 Wby is a nice round. I can't tell the difference in recoil from a 338 Win so I went with the Wby.
I had Kevin Weaver build me one on a '50 cloverleaf P64 action with a 26" Krieger barrel and his customary HiTek stocks. A good rifle, but as alluded to, that 26" tube always seems to get in the way in the alders. While an OEM rifle may temper the recoil from the added weight I'd rather carry 2# more of food on my back. (I have yet to feel the kick of a 340 Wby in the field. On the bench, yes, but not in the field.)
I sold that rifle and yesterday in fact picked up my new 340 Wby built by Patrick Holehan with his proprietary return to zero mounts (part of an Africa set I had made with a 270 Win to go along with a 416 Rigby of his). We decided on a 24" barrel as the "on paper" "velocity loss" is negligible when compared to packing and handling the rifle, and he suggested the shorter barrel harmonics "may" make it less finicky. I haven't weighed it yet, but I also had him build a second synthetic stock in addition to the wooden one for Alaska. I'm looking forward to shooting it when I return from Zimbabwe.
But the perfect elk rifle is my 300 Win Charlie Sisk built me back in '04 on a Wichester Classic. That rifle has shot one holers from the get go.
