I used to have a 35 Whelen. It shot well, it had a good,practical 300 yd plus hunting trajectory,and I loved the feeling of "flinging a chunk" . I shot 250 gr bullets.
I won't trash the Whelen.
But it came from the time if relatively unsophisticated bullets. If you needed dependable penetration,big bore,heavy,and reasonable velocity made sense.
With today's bullets, a 2900 fps 160 gr 7mm bullet of proper construction will do what needs to be done.(In North America). It will kill elk just fine.
Both cartridges can serve well as an example of a "Rifleman's Rifle". They are equally cool.
If you are buying it as a "Pretty Stock" .......I'd respect it as an example of the Gunsmith Art. I'd leave it a 7mm Gibbs. (Thats me. You do you)
By the time you buy that rifle,the bbl custom contour bbl blank,pay your smith to fit and chamber it, then to get the blue to match the whole rifle may need a reblue.. You are spending enough money to buy another rifle.
I suggest "Let it be what it is"