Kipp,
The 7mm-08 works fine on elk--and also black wildebeest, considered among the toughest of African plains game. In 2007 one of my safari partners put a 140-grain Nosller AccuBond just behind the shoulder of a big wildebeest bull at about 150 yards. The bull ran about 50 yards and keeled over.
Craig started becoming a fan of the 7mm-08 after his daughter started hunting. She used one on a safari with him and it worked!
I was also a good friend of Chub's, and we hunted together several times. But he was also a rifle loony, and somehow he never used the 7mm-08 on any of our hunts. In fact he used a different cartridge on every hunt!
