The 150 gr is a great all around bullet for the 30-06. Big enough for elk and moose, so definately big enough for deer. And it will shoot flatter than the 160gr.
When it comes to elk on up, unless you have perfect shots at the ribs i don't agree with that statement at all.
I've seen so many "non premium" 150 grain bullets out of a 30-06 come apart in deer it isn't even funny! (I base that on well over 100 whiletail kills i've seen useing 150's) Anyway, that isn't so bad on a perfect side shot in the ribs on an elk, but they just don't penetrate deep enough on the bigger animials to be called "a great all around bullet for the 30-06" Pretty much the same thing can be said for the 165's too, but they do seem to have a bit if a thicker jacket than the 150's, and they do seem to hold together a bit better...
In general Elk on up should have a 180 grain bullet used for them.
Drilling Man