Many elk have fallen to both calibers. Me personally I chose 30-06 due to the fact it can deliver a heavier bullet and I also deer hunt with it. At the end of the day as long as you can shoot it accurately they both are great choices.
That was a kind and thoughtful thing you did and it would be extremely sentimental to me. I would keep it the way it is for him... maybe he could give to his childI am taking my son on his 1st Elk hunt next year to Wyoming. He has a 1982 Remington 700 BDL in 30/06. I had bought the gun new back then and oiled it and put it back in the box for a future son or daughter. Gave it to my son in 2004 ,he was 12 but it was too much gun for him so he used my BLR 243 his 1st yr hunting. Fast fwd to now. I had changed out the great looking wood stock for a factory black stock and from what I recall it shoots OK. Plan on getting him out to a 300 yd range to start practicing for next year. I did buy some Black Hills ammo along with a couple other brands for testing. If I am not happy with the 300 yd groups, where should I start in improving accuracy ? Also putting on a Vortex 4-16x50 viper scope also. Bedding and then maybe Timney trigger ? Or I thought about adding a Boyd's laminated stock.
I'd clean it up first and put a Timney trigger in it, then see how it shoots. It may be all you need to do.