Lots of folks like it. There's a dead-horse-beating argument about which is better... the .338-06 or the .35 Whelen (both based off the .30-06 cartridge). The main thing right now is that you need to be a reloader (or rich) to shoot the .338-06 whereas the .35 Whelen has a fair number of factory load options.
I recently got a .338 Federal... the little brother of the .338-06. I haven't had a chance to hunt with it yet (just got it a month ago) but from all the reading I've done, it makes a fine <300yds cartridge for just about anything in NA (up to moose, but maybe not great bears since you want something with serious authority if you're hunting something that might hunt you back
) And I like shooting the .338 Fed so far. Serious thump for its size.