I really do not see why it would not be a decent choice for elk. It has a flat trajectory high velocity and plenty of power. I make this argument because I have seen alot of elk hunters using 270 Win. with 130-150 grain partitions. A bullet that is designed to penetrate deeply and have high weight retention should make the 257 Weatherby a better choice than the 270 Winchester because of the higher velocity. The most important thing when using the caliber would be shot placement as it is with any caliber. I have seen gut shot whitetails go extremely long distances when disturbed. An elk is a much bigger creature. A bad shot with a 338 Mag. isn't as good as a well placed shot with a 270.