Just found this thread... I'd been curious about the .338Fed for a while, myself... and I found a really good deal on a Ruger Hawkeye All Weather in .338Fed three weeks ago
I liked the fact that it hits as hard or harder than a .30-06 out to 300yds and makes a bigger hole. That it drops more after that isn't a problem as I doubt I'll shoot it over 300yds to begin with. Also, it's not a problem that it won't shoot laser straight for a mile... makes it easier on the mind about what's behind the target, IMO.
I've already taken it to the range and broken it in...
The rifle itself shoots nicely... the way it feels, etc. all good. I was actually surprised at the recoil... it feels less than my Browning A-Bolt .30-06. The pad that comes on the rifle is plenty good, IMO. I can tell you for sure it's easier to see the .338" holes at 100yds through my 3x9 scope than it was to see the .30" holes the guy next to me was putting in his target at 100yds at the range the other day
I was using the 200gr Fusions to start with. I need to go back out and finalize sighting it in and will then actually pay attention to shot groupings, etc. I'm pretty happy with the rifle and the cartridge so far (mostly on paper) and will definitely be trying it out this year on whitetails and hogs, if I'm lucky. Maybe one day I'll get to try it out on something bigger
My main whitetail/hog gun is my .260... I like that cartridge a lot, too.