Chuck Hawks:
http://www.chuckhawks.com/338_federal_first_look.htm
"Federal took their new .338 choosing to maximize performance rather than control recoil. This will make for better advertising copy, which we are already seeing: "200 feet per second more velocity than a standard .308," and "provides the energy of a 7mm Rem. Mag."
"But there is potential danger in that course. The price to be paid for higher performance is, of course, increased recoil. I am convinced that heavy recoil, more than any other factor, is what has limited the popularity of all the previous standard medium bore cartridges, including the .33 Winchester, .348 Winchester, .35 Winchester, .356 Winchester, .358 Winchester, and .35 Whelen. It is my hope that the new .338 Federal can escape the same fate"
"It has been estimated in various places that about 20 ft. lbs. is the maximum amount of recoil energy that the average shooter can tolerate. Certainly anyone can shoot more accurately with a rifle that kicks less. Recoil is the problem that has plagued medium bore rifles since the invention of smokeless powder. While the .338 Federal generates less recoil than the magnum medium bore cartridges, it is still in excess of the theoretical 20 pound limit and very similar to the existing .338-06 A-Square in rifles of average weight. In a lightweight rifle, the recoil will be considerably greater, and probably quite unpleasant to the vast majority of shooters."
If it should be a 338 I will pick a 338-06. I'm seriosly thinking to rebarrel or rebore a Remington 7600.