If you plan to hunt elk you should go with the 30-06. You can mitigate recoil by buying a fairly heavy rifle and/or installing a very good recoil pad (a Weatherby Vanguard S2 weighs a lot more than a Remington M700). You can also practice with reduced charge rounds like Remington's Managed Recoil ammunition. If you will be humping up and down hills on hunts, I would avoid a real heavy rifle and practice with managed recoil rounds, then check your zero with standard charge rounds before the hunt.
If you do not mind spending the extra money, the new FN produced M70s are getting great reviews for their build quality and accuracy. The Marlin X7s are reportedly very accurate, and they are a great bargain.