a lot of good advice and it goes without saying if its not broke don't fix it. However, if archery elk hunting was as easy as "get close and shoot 'em in the heart and lungs" success rates wouldn't be around 15%. I'm always trying to do anything and everything I can to put the odds in my favor in any circumstance. Can you shoot an elk and kill it with a .223? Yes you can. Does a 300 ultra have more knock down power and is it better suited for elk? Yes. I believe the heaviest arrow you can shoot while still keeping your bow around the upper 2's for speed and relatively flat shooting, with a very sharp cut on contact head is best. That's just my opinion, and there have been a lot of elk killed with other setups. I shoot a 475 grain (total weight) black eagle rampage with a 100 grain magnus stinger buzzcut. I shot a large bull this year at 68.5 yds 1/4ing away. I hit behind the front shoulder and exited the backside shoulder with nearly a complete pass through. IF you can get within 25yds, have a perfect broadside shot, and hit the 10 ring every time... nearly any bow, arrow, and broadhead will do the trick. Its for the other 95% of the time that I focus on, knowing it rarely happens that way. No matter what you decide make sure its tuned and that you practice, practice, and practice some more to build your confidence as high as possible. If you've never experienced archery elk hunting and happen to draw a premium tag as your first hunt, you're in for a rush like no other. A big mature bull screaming in your face will scramble your brain making it hard to focus on your shot sequence. That's where marginal hits come into play and the more penetration you have the better off you will be. Good luck in the draw, I'm also looking to cash my 9 WY points this year!