I just shot a big bodied white tail buck this weekend with a 162 ELD-X from my 7mm rem mag. Velocity was 2950, the range 75 yards, and the shot placement right in the middle of the shoulder.
I can tell you that the buck dropped instantly, and the bullet penetrated both shoulders but separated from the jacket and fragmented all over the far side of the shoulder. I recovered the jacket under the hide with chunks of lead all around it.
The bullet absolutely worked but did not stay together after hitting shoulder bones. At high velocity I would not be shooting an Elk in the shoulder with and ELD-X!