MtMuley
Long time getting you an answer. Still not totally unpacked from NM hunt either
Going the 338 off the larger 300 case gets you appx 10 grains more capacity and 100 fps give or take.
To support my opinion here are my thoughts for whatever value they are. First I've used 300 mags of various calibers for years. Still have 2 at the moment. Normally they are just fine. But having hunted a few Nilgai they leave something to be desired for long range and non ideal shot angles. Having used 200 grain bullets I've encountered bullet failures and non ideal penetration(not total and complete). I've never lost an animal but a few required 2nd shots. Granted I'll give you the fact that had I been aware of and using X bullets instead of Partition I might not have quite had those incidences.
After using and seeing 338 calibers used quite a bit I tend to lean that direction for large or once in a lifetime game. I'm sure you can have failures even with the 338 but I've yet to see one. And since we are in the magnum range the recoil differences, cost of ammo etc... are all similar.
Why go to the wildcat version? I'm assuming that anyone thats serious enough to be on this forum is advanced. Such that factory ammo may not provide all the answers and as such that most folks are reloaders. If thats the case then I take case capacity as a plus. After all sometimes you just cannot get a top line velocity load to shoot well enough and if you have to back off some you are still at 338 RUM performance, not backing down into 338 Win area. IE I normally take what I can get for extra performance and from my competitive shooting sideline I'll take the chance of 100+ fps gain or .040 BC anyday and it'll help on out there past 300 yards.
I still agree with you that the 300s can do just about anything given the correct circumstances and they may seem better suited for smaller game encountered. But certainly if my main use for the gun were to be larger than mule deer I'll still lean towards the safety margin.
All that being said I don't have many in between guns myself. Its either 243 or 300 or larger. But I've got to be careful with using the 243 on larger game. You see I shot tons of hogs with a 22LR that folks wouldn't agree with. But I could afford to let em walk if I had to. I had a buddy that could never hit em in the ear and had to go to a centerfire. Did it mean the 22 didn't work? Nope, I"d let him shoot a hog and then I'd pick off one or two in the brush with my 22 pistol. Doesn't mean that I could shoot the 300 pounders running away though.
Basically it really boils down to circumstances. As I've often said, if you can afford to let the big elk walk away because the angle was wrong then you don't need the horsepower. I'm so far away from elk and the tags are so rare that I want that extra horsepower. Its a huge consideration in that I'll probably only have one moose tag in my life and I really want it there.
Hope that explains it a bit better. Sorry I've not put the pencil to the energy figures but under correct circumstances with the proper chamber and throat length, you can gain 200 fps and thats good in my books. The energy figures will increase along those same lines.
Jeff