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Your shot placement will be CRITICAL with the 270. A 130 grain bullet is really light for elk.
.270 on Elk? Since this thread will probably explode (as does any other on this subject), I figured I'd chime in with professed ignorance as well as prideful experience. (This will just about cover the range of responses, but I make no claims toward reducing them.)
Professed ignorance: I have no experience with all-copper bullets on big game, but I will stand with the choice of a 130-grain TSX as entirely adequate. As to shot placement all of a sudden becoming "critical" with the choice of a .270, or 130-grain bullet, or such, I'd sumbit my humble contention that shot placement is always and without exception critical.
I do have experience with intense testing of all-copper bullets in the .270, as this was a considered choice for me for elk and Dall Sheep hunts. To cut to the chase, I was extremely impressed with the expansion, weight retention, and penetration of the Barnes bullet (of a style prior to the TSX). All-copper bullets seem to "upgrade" a lighter bullet into the performance range of a heavier one in all respects mentioned. The litmus test for me however, also included accuracy, and this older-style Barnes could not measure up in that department. I have kept up with developments, and understand that the TSX bullet has solved most of this early accuracy issue.
I included Nosler Partitions in this testing (including on big game) over the years, and found as many others have found that they do everything as represented, with a couple minor drawbacks: Rarely will a Partition bullet deliver the dramatic "explosive knockdown" (in truth, no bullet is capable of "knocking down" big game) on an animal, as a faster expanding bullet might.
Rather, the strength in the Partition bullet is demonstrated in penetration, continuing on inside the animal to reach vital parts that a faster expanding bullet might not get to. It nearly always exits, leaving a fine blood trail. The other drawback to the Partition is that in its expanded state, its diameter is not nearly the diameter of a conventional expanding bullet, and therefore it creates less displacement.
Most of what I've said is uncontroversial, and so, here's something some can argue with: My final choice for elk in the .270 Winchester is a 150 grain Nosler Ballistic Tip, loaded to 3000fps. Tests in various media gave excellent penetration, excellent weight retention (surprising me, as I did not expect this bonus) and dramatic expansion. Used on elk, it gave one-shot kills, the most dramatic of which was a huge 6x6 trotting bull in the Bob Marshall Wilderness, which received this bullet a bit forward of "critical bullet placement"; The 150grain Ballistic Tip hit the ball of the shoulder, broke that shoulder and the bull's neck, penetrated the far shoulder blade and exited. The bull may have kicked twice after plowing 15 feet of snow.
Lesser elk, smacked in the ribs simply did the "I'm hit in the lungs" jump, ran the customary 15-20 yards and died.
Any stout 130 grain or 150 grain bullet in the .270, backed by a hunter who is confident with his weapon as a result of lack of recoil is entirely adequate for elk. A .338, .340 Weatherby, or the like reduces the criticalness of shot placement not one iota., and may actually in more than a few cases, impair it.
After seeing what my .270 did to both shoulders of a HUGE benchleg buck at 320 yards, (130gr Core-lokt) I wouldn't hesitate to bust the nearside shoulder of a bull.I wouldn't try to bust a bull's shoulders with a 270, but I wouldn't try that with a .308 or 30-06 either. Shot placement, just like the other guys wrote, trumps everything else and with the light recoil, flat trajectory, and low ammo cost of the 270 it should allow you to have the experience and confidence to place your shots.