A great rifle/caliber.
I've used a 700 in 7 Rem Mag on many Elk and, early on, some Deer, Antelope and Caribou.
Initially I loaded a 140 grain Sierra for Antelope/Deer. This was a great combination but a bit destructive on close shots.
I've always used the 160 Nosler Partition on Elk and Caribou with perfect satisfaction. I use Federal 215 primers, Rem brass and IMR4831 powder. If I was starting over today, I'd try ReLoader 22, which is a bit slower.
Both of these loads shoot into about 3/4" (100 yards and 3 shot group) with my 700.
My only 700 complaint was the super-bright blueing and stock finish on the older 700s, which was easily spotted in the field. I had my 700 coated with Teflon and installed a H-S Precision stock. This was a good cure and made it more durable in tough country.