I have seen some folks talking about getting 2700+fps for 200gr out of the 338Fed... right here on these boards ( http://thefiringline.com/forums/showthread.php?t=497762
Also saw a guy posting about killing a moose using the 200gr Trophy Copper (seems like it's just E-Tip).
Anyway... I don't think anybody here is saying everyone should throw their rifles away and go get one. If you don't have something in that performance range and want one, the 338Fed might be one to consider. I have a .30-06, .270Win, and others but I still thought the 338Fed would be cool to have.