Cbeard, That's exactly the gun my pard will be bringing this year. His gun is in almost mint original condition and i'd fear of damaging it's value especially being that he has so many others to pick from.
The .264 Win Mag kinda takes a back seat to a few of the "bigger Mags, the 270 Weatherby, 270WSM, and the 7mm Rem mag. These Bigger guys are engineered to shoot heavier factory loaded ammo that produces more energy down range. In the case of lopes or mule Deer, this extra energy and these heavier bullets are not necessarily needed.
Though it certainly could be considered big enough to take elk, IMO, it's real nitch with 120-140 gr bullets, is in the more diminutive Mule Deer, antelope, Sheep, open country, long range stuff.
Joey