I had one for a bit. But to shoot it more than 20 times a range trip would kill my shoulder. Sold it soon after. Plus i was new to guns and didnt know how much it would cost to shoot. So i went back to my trusty 700 5R in 308. Never looked back.
Man thats an expensive caliber to jump into. las time I checked around prices were in the $80/20 for the 250grainers. Couple that with the price tag for the rifles and glass to make use of that extra range and youre into the which organ do you want to sell category Its also hard to find ranges that will give you the opp to stretch its legs. Shooting a 338LM at the standard 100 to 300 is pretty much like kissing your cousin.
A friend of mine was going to build a 338LM bolt gun but decided on 338RUM as reloading was by far less expensive. I agree with Taz as it is more fun at 500+ yards.