Here's my thoughts. Like others have said, that is a pretty light load for elk, not impossible, but a limiting factor. Since it's hard enough to draw out for elk, and then there's the luck factor in finding a legal animal, and then lucking out to get that perfect shot, why add another limiting factor, such as a lighter than optimum load? You've already choosen to use a smooth bore (and my hat's off to you for that), so you might want to compensate by adding as much power as possible, for the elk's sake, if for nothing else. Being a seasoned hunter, you already understand the importance of shot placement, so I suggest a little extra power could make up the difference for a less that perfect shot. This is also my philosophy for hunting elk with rifles, cuz no matter how disciplined a hunter you are, or how good your marksmenship skills, you just never know for sure where that ball will hit.
I think Roundball has some good advice. You might try upping the size of the ball, so you can increase the load and still get the groups you want.
Good luck with your hunt. Bill