HuntingMan, that load will be used for antelope and deer, although I have no doubt that it would knock a bull elk right out of its hooves. Even though that seems like a small bullet weight-wise, the fact that it doesn't break up at any reasonably safe (FAST) speed makes it deadly for any size deer or elk. As you know, this idea of ultra-fast bullets was pioneered by Roy Weatherby decades ago, but, until recently, few bullets could withstand that kind of velocity. I'll use my 300WSM for elk - not because it's better, but just because I have it for elk hunting. (Anyway, that's why I told my wife I had to buy it.)
By the way, the biggest bull elk I ever mounted as a professional taxidermist was killed by a 16 year old kid using a Barnes bullet out of a 243. The bullet dropped the bull dead in its tracks.
Hope you get to join your buddies for an elk hunt next time they go.
Here's a picture of what a BIG little bullet can do: