I built my .338-06 Ackley on my pre-'64 M70 with a 24" Donnelley barrel back in 1988. To say it met all my expectations would be an understatement. So far elk hunting with it, I've never lost a bull shot with it. Most are DRT or found close by. My bullet of choice has been the Nosler 210 Partition; one bull was hit near the poop chute quartering away at 65 yards......the bullet broke the large hip joint, travelled through 4' of elk, and broke the opposing shoulder and exited, for a total "elk travel distance" of almost five feet, and breaking two major bone joints doing so.
I've got more elk-killin' stories from my .338-06 Ackley, but you get the idea. Recoil is not bad, I'm using a Pachmayr Decilerator pad, and I'd opine the recoil is just like shooting my '06 with a heavy 180gr load. But the real joy is knowing I've got over 3,600 ft/lbs of energy ready for "Mr. Big Bull" with my 210 grainer at 2,800 fps.
Most of my elk hunting is in black timber, so I'm using a Leupold VX3 1.5-5X scope, and would not change a thing. One bull was taken at just over 275 yards with it, so more power/bulk/weight is not needed in a scope intended for elk hunting when you're huffin' those steep elk mountains.
I don't care for magnum rifle cartridges, feeling anything I've ever hunted here and in Canada can and has been killed with standard calibers. I just don't feel any more power is needed or wanted....THIS caliber just gets it done, and done every time. Elmer Keith felt the same way with his 333 OKH, basically the same cartridge. He said if he had to have only one rifle caliber to last him the rest of his life to hunt everything here, Alaska and Africa, this would be the one. Pretty high praise indeed.
(Rifle and Handloader Magazine has published at least four articles over the years dedicated to this caliber with Pet Loads and much research/chrono data included.)