Seems to be essentially the wildcat "338-08" - an efficient, balanced round that differs little from the popular 338-06. Is "Magnumitis" on the decline?
http://www.federalcartridge.com/default.asp?menu=1&s1=4&s2=6&id=80&brand=5&year=2005
http://www.federalcartridge.com/default.asp?menu=1&s1=4&s2=6&id=80&brand=5&year=2005
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