In physics, mass x velocity = force. And the rule of thumb is 1600 ft/lbs of force to take down an elk (no idea where this number comes from). 6.5CM has the same force at 400 yards as a 30-06/.308 does at about 600 yards...very very general numbers, loads and bullet weight will really change these. In reality seems like a lot of people have seen kills that defy these numbers (I know most of you already know this, and I"m not trying to get all technical, it's just that force is a good way to compare two rounds).
Then throw into the mix, accuracy with each round, your comfortableness with each round. A 300WM will have more power out further, a 300RUM will have even more power out even further. Where do you draw the line and say, that's enough power, that's enough distance, and I'm comfortable with that gun?
6.5CM will take down an elk. It is a sweetheart of a round to shoot, which makes accuracy really high. The ballistics on 6.5 rounds are among the best, making accuracy high. I think it's a fine round, but it would not be my first choice for elk. I'd likely go something in the 30 caliber family, or something in the 7mm family. But, again, it is going to get the job done as long as the user is comfortable and the range is reasonable.
In fact, it sits in a weird place for me...but I still want one. For elk I'd prefer a 7mmRM or a 300WM. For deer and antelope I'd prefer a .243. That sorta leaves the 6.5CM in no man's land. Even for an all around, do it all gun, I'd probably choose a 7mm RM.