The .300 Win Mag is an excellent cartridge for elk. Premium 180 to 200 grain bullets work best.
Is it too much for you? Well, only you can answer that. I can say this - the limb saver does reduce felt recoil quite a bit.
I can say this, I own a .300 Win Mag (actually, I own two of them). The recoil, at least for me, is tolerable. I used to flinch a lot, but I have since mostly overcome that problem - it truly is mostly mental.
Zachary