Obviously, terrain has a lot to with your choice of rifles. If you know your shots are going to be in wooded areas, where range is easier to judge, the 444 would be my choice with 300 grain handloads. Even from a short barrel, an aggressive 300 grain .444 handload is still clocking 1700fps at the 100 yard mark, which is just about all that can be expected from a .44Mag carbine at the muzzle. I'd say the average shot should be able to put one in the vitals with a .444 from 50 to 200 yards, or a bit further, after becoming familiar with his 300 grain handload.
On the other hand, if one is shooting an elk in open country where the stalk becomes more treacherous and the difference between 200 yards and 300 yards becomes less obvious... I'd leave the .444 at home (unless you don't mind crawling on your belly with a range finder).
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