I have the m77 in a 7mm rem mag with the same way of thinking as you have. I did take a bull elk with it in 2009 and various deer. It is overkill for deer imo but it does come in handy for the longer shots out here on the prairie. The thing is, my elk was close range and i feel a .270 with a 150 grain slug would have done the job quiet well. So i would say a deer rifle with the occasional elk, the .270 would be my pick. If i was going after deer only, my pick would be the 25/06 hands down.