Everyone has had different experiance in bullet performance. A lot of shooters that use the 30-06 like 150gr bullets. To me that is a little light, I always shoot 165gr Ballistic Tips or 165/180gr Partitions and have never had a issue with bullet performance after it hits the animal. If it was my new 7mm mag I would load up some with both 150gr and 160gr bullets. I would think that the 160gr bullet weight in a controlled exp type would be the choice for Elk.
In my 7mm mag I found that 140 grain bullets were the most accurate with the 165 grain running close second. Both of them were in a Federal Premium. I never had a 150 grain bullet shoot very good in my rifle. Before I started handloading I was shooting a Hornady Custom 139 grain BTSP. These shot as accurate and performed as well and they didn't cost as much as the Federals. Good Luck.
With any new rifle you are going to want to shoot a bunch of ammo through it. Try to be gental with the first couple of boxes. I try to break-in my new barrels with lots of cleaning between groups. This also slows me down and the barrel never gets hot.