The .308 is plenty for elk especially within 200-250 yds. I would have thought it would start running out of steam for elk but my dad had a one shot kill on a bull elk at about 320 yds. He was an excellent shot though. 180 gr CoreLockts is what we always used but nowadays there are so many excellently constructed bullets for elk. In the wide open I would go with a premium mono or bonded bullet in 165 gr to get a little more velocity at the 300 yd area. Personally I never shot at anything much beyond 200 out here in the PNW woods.
The .300 WM is a fine cartridge as long as you are OK with the bit more recoil and ammo cost and longer barrel. .308 rifles are often 18”-22” whereas the magnums are typically 24-26”. Likely not an issue in AZ, but in our thick woods and steep ridge climbing every inch and ounce matters.
It is in vain, sir, to extenuate the matter. Gentlemen may cry, Peace, Peace but there is no peace. The war is actually begun! ... Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" - Patrick Henry in an address at St. John’s Church, Richmond, Virginia, on March 23, 1775.
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