Been done quite a bit since the 70's. It is a 340 wby with cheap remington brass. It is an excellent chambering and easily capable of 1000 yard hunting. In 28-30 inch barrels you can drive a high BC 250 grain bullet to 3050 fps or so which is plenty for 1000 yard elk. I have driven the 300 SMK to 2700 fps with my 340 wby with a 28" Hart barrel 1-10 twist. I have an accuracy load with it at just under 2700 fps and you see what others on here are doing at 2700 fps with the ultramag and lapua cases. You can get an excellent barrel from pac-nor chambered in it.
Predictions are difficult, especially when they involve the future