John M., I've been wondering/struggling with this myself lately. I decided to go with a 338 Lapua instead of the 408 Chey Tac. Not that the 408 Chey Tac doesn't have far better ballistics then the 338 Lapua, however. My reasons are: - first off there aren't a whole lot of people making rifles for the 408 yet, there may be more sometime soon in the future, but I need something for this fall. - Secondly, the Lapua appears to have more ammunition available for it, more reloading supplies, ect. - Thirdly, I can get a 338 Lapua NOW; in plenty of time to get amply amount of time to work with the rifle prior to the hunting season this fall. - Fourth, the Chey Tac's limitations appear to be more optics related then anything else. Getting a scope with enough come-ups is hard (I DON'T want to have to deal with USO's; heard way, way to many horror stories of people having problems dealing with them). You've also got a range-finder optics problems. My Leica 1200 works really well out to 1200 meters. If you really want something to go out to greater distances you're talking big bucks for either that Russian 20,000 meter one, or an equally powerful and expensive one - Fifth, I really don't need an elk rifle to take elk beyond 1200 yrds. If'fin you can't stalk within 1200 yards of an elk, you should be home, in bed. - Lastly, the Lapua really has stood the test of time, used by a lot of people with very good results. I'm sure I'll get into the 408 someday, but only when I get way more $$ and the optics catch up with the ballistics.