He does not have a 338 Federal, he has a 308 Finnwolf that he is thinking of putting a new barrel on.
While the 358 Win is a nice cartridge, with today's bullets like the the 185 TSX @2700 fps you can handle anything you would hunt with that class of cartridge. It would also leave a bit more meat in your barrel.

Killed a cow Elk with that combination from a Kimber lightweight. Broke both shoulders and went in into a clay bank.
No tracking require. She made great Elk Tacos.