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I've used my Remington 700 BDL in .308 for everything, for years, using one single load - a 165gr Sierra Game King HP loaded to 2650fps, which roughly duplicates the performance of M118LR that I used in high power competition for years. I limit my shots depending on what I'm hunting, but I know that load and what that load is going to do. My last Elk was a big cow at 350 yards, and even at that range it put her down on the spot. But I hit her in the right place to do it.
7.62x54R is a full power load, equivalent to a .30-06 and with the right bullet will work just as well if you have the sights to do it. Same with 8mm Mauser.
I know Colorado law says that 6mm is the smallest that's legal, but the thing I think a lot of people don't think about is their shooting ability. Sure, it may be legal to shoot an Elk with a 6mm but if a person's ability isn't up to the task all you wind up with is a wounded animal most likely going off to die a painful, lingering death. I would say the smallest caliber I'd feel even close to comfortable using would be a 6.5, and even then if I was using a 6.5x55 I'd keep my shot closer than if I was using my .264 Win Mag. I think 7mm is the smallest most people should consider, and .30 would be better. I think your choice of an '06 is a good one, and you're right - you can get ammo for it everywhere. Same holds true for the 7mm, but the 7mm-'06 argument is just like the 9mm-.45 argument - everyone has their own opinion.
Best thing is just as jmg8550 said - Know your rifle, know your cartridge, and know your limits.
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It's all about shot placement. I've always used a 30-06. Last year I bought a 300 win mag from a farmer back home. So for the first time I will be using a 300 to hunt elk this year.
Good Luck.
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A 30/30 will kill an elk, if used within reason, and within range. The whole thing boils down to, if you are one of those guys who picks up your rifle to shoot 3 shots before season, then carry it in the woods, it doesnt matter what you shoot. Poor shot placement will always trump a big gun's oomph. Spend time at the range, and get some practice in.
