I have not had the chance to hunt elk with a muzzleloader yet. I have read a lot of posts telling of how tuff they are to bring down, even with modern rifles. I am sure your fine for the thin skinned Whitetail deer type animals. Although the set up you describe will kill an elk if you get close enough and you place your shot, you might be in for a long tracking job. Then again you might shoot and have it make two steps and fold.

Personally, I would go to something a little more in weight and with some better penatration power. A conical of course is the answer. The question is which one. You might want to try some of the 348 grain Aero Tip Powerbelts out of your rifle. I think these are still legal for you.

Also, look at Precision Rifle and check what they recommend for a 1:48 twist in the line of their conicals. They make a great selection of bullets and conicals.

When you find a good shooting one, push that as hard as you can up to the 100 grain range or until the accuracy goes out. Actually with a heavy conical even 80 grains carries a lot of down range punch. I shoot some 460 grain No Excuses conicals that have a lot of power to them.

This should be a better load for what you want to try. I think your right about getting the perfect shot and the waiting will be terrible, but that's the difference between us and the modern hunter. We only usually get one chance at this...

Good luck in your draw, hunt, and search for a better projectile. Be sure to keep us posted about the elk hunt. I just wish it was me....