The Savage rifles are a good value and are know for out of the box accuracy. They aren't as refined as some rifles costing more but are reliable and will definitely last a lifetime.

As to the 7MM-08 it's a good cartridge and can be used for elk. There are much better elk cartridges but if you keep your shots under 300 yards and use a quality 150 gr. controlled expansion bullet you should do well. You must also be willing to take your shot when the animal presents his vitals and pass on marginal shots.