Haven't shot an elk with mine, but have used .348gr powerbelts to kill two mulies. I read all about no penetration and super lousy bc with powerbelts. So reality for me is they are the most accurate by far out of my knight lk93 in .54 in front of two pyrodex pellets. Last mulie turned as I was shooting and the powerbelt went through the hip bone, penetrating the body and exiting through an offside rib leaving it sticking out. That should be enough penetration to kill any elk. Shot was at 90 yards. I will be hunting elk this year. Will use an Austin Halleck in .50 cal that I just picked up. I'll be running powerbelts, barnes, shockwaves and precision rifle's dead centers to see which is most accurate and gives the most distance. I'm confident any will work if I do my part.
