A first question is how experienced are you? If you are indeed a very experienced, first-class rifleman, that's one thing. If you're just getting started, it's something else entirely different. So, I'll just sorta generalize.
Between us, my father and I have taken some pretty fair-sized deer out to 400 and 500 yards. One-shot kills, with the '06. But we've been in this game for decades. I've been using the '06 since 1950...
I think I'd go with the Short Magnum, because of the advantage of the shorter, stiffer action. From what I've read, there is a tad less recoil, just from the burning characteristics of the powder and the lesser loading--for nearly the same performance as the larger cartridges.
Now, for a beginning hunter of elk, moose or black bear, I guess I'd recommend either a .308 or an '06--and a whole bunch of practice away from any benchrest. (There are other suitable cartridges, sure, but I tend toward the .30 and particularly the '06.)
$0.02, Art