I concur with everyone else. Good boots are a must. However, they don't have to cost a fortune if your ok with used boots. If you wear a size 10, I have a pair of Asolo Powermatics for sale in the classifieds for much less than $100, here:
http://www.rokslide.com/forums/roks...-power-matic-200-gv-size-10m.html#post1000007
And since this will be your first elk hunt, I'd be willing to work with you even more on the price.
In regards to mernio wool. I have a bunch of it and I was a die hard merino wool fan because of the no stink factor. However, I'm slowly starting to change my ways. Synthentics beat out merino wool in almost every category. Synthetics dry faster, wick perspiration better, last longer, doesn't itch (even superfine merino itches me a little, YMMV) and are significantly cheaper. Their only drawback is the stink accumulation. That's changed though. Look up polygiene. It's a permanent treatment to synthetics developed in Europe. It's fairly new to the US, but has a proven track record in the European market. Sitka Core shirts are using it and cost $70.
I'm not sure what Exofficio uses to treat their synthetics, but I've run their boxer/brief for several years and they have the same odor resistance as any merino wool boxer/brief and they last much much longer. Get the sport mesh style. They tend to run a little shorter in the waist and order a size smaller than normal.
Keep a close eye on the Classifieds because there's a ton of quality gear at great prices on there.
Good luck on your trip. You're going to have a blast!!!