There is a lot of information in here that really isn't accurate. I run a lab radar + atmosphere readings and put everything into applied ballistics.
As far as 6.5 vs 308: (eldx hunting bullets 178/143 loads for 308 and 6.5CM - obviously data changes with bullet and load; the BC for this bullet is about as good as it gets for 308) ....but this gives you accurate info as to what the trend is between both cartridges.
At the muzzle: 6.5 2314 lbs of energy / 308 2470 lbs of energy
At 500 yards 6.5 1538 lbs of energy drop 2.6mil / 308 1531 lbs of energy drop 3.3 mil
at 1000 yards 6.5 942 lbs of energy drop 7.7 mil / 308 908.1 lbs of energy drop 9.6 mil
308 goes subsonic at 1640 yards with 491 lbs of energy drop 22.2 mil (at 1640 yards 6.5CM has 494 lbs of energy and 17.3mil drop)
6.5CM goes subsonic at 1870 yards with 394 lbs of energy drop 23.2mil
Wind drift is another animal all together. The high BC bullet wins this every time. I've shot 308 at 1000; it sucks if there is any kind of wind. However, at 600 and less, 308 works fine.
I've shot thousands of 308, and I definitely prefer 6.5CM for the following reasons. It has a far less recoil energy, and it is easier to follow my shot on target; It is much easier to load with multiple strings on a ladder load producing desired results along with multiple factory loads producing desired results, It has less drop, and less wind drift making long shots much easier to call and dial my firing solution. I'm in the process of phasing out the 308 cartridge as I run through all my stock of ammunition and components for it.
7mm-08 was mentioned too; no doubt it is a great hunting cartridge. The issue with this cartridge is that it wasn't really designed for the heavier bullets especially in a gas gun with SR25 magazines which is a requirement for me....high 160s-170s are needed to match the BC of the bullets that 6.5CM uses. It's a great cartridge, much better than the 308, but it is still an old design before bullet aerodynamics and case design changed things, which may or may not matter for your goals.
So to answer the original poster's question; Ethical Elk is 1400-1600lbs depending on who you talk to; keep your distance under your ethical kill goal for lbs of energy on target. If 6.5CM meets your distance ceiling for your desired energy on target, then it it is a good fit for you; there are several good bullets available from Berger, Nosler, and Hornady. If it doesn't, then you will need to look at other options. The best way to determine this is to actually look at a ballistics chart with your desired projectile to determine actual numbers not what other people think. Edit: forgot to note that the Elk ceiling for 6.5CM is in the 400-550 yard range depending on bullet and load used.