All of the deer that I'm familar with that were shot with a variety of 240 gr. HP's and soft points, all had full penetration. Likewise lots of pigs shot with them. While not always complete penetration, nobody I've met that has done it has complained about lack of penetration with standard soft point .44 mag loads.
Jacketed bullets do vary alot in their expansion potential. Especially the heavier jacketed ones designed for the .444 Marlin or the really light 180 HP stuff.
If it were me, I'd find somebody that had actually shot an elk with a .44 Magnum and ask him what he used.
Hard cast bullets make a pretty small wound channel. That means they kill slowly. Not my idea of a good choice. E