In a lot of states, including Oregon, there is a 50# minimum draw weight for elk. After all the elk i've taken myself, and seen taken, with a wide variety of archery equipment, i have to agree with it........
Oh sure.... you can most likely kill an elk with a 35# bow if the shot placement is perfect, and you slip between the ribs. But i honestly think you shouldn't be hunting elk or moose with less than 50#'s and be responsible about it. I've seen my share of elk lost to much higher draw weights just by glancing off a rib bone wrong....
Bottom line is that it's a personal decision. Every pound of weight you can add to your draw weight comfortably without effecting your marksmanship, adds to your potential success. Too many things can, and will happen in hunting that a little extra power in that arrow might make the difference between loosing an animal, or putting it in the freezer....... I don't think its a macho thing at all. I like that expression "A 50# bow is like the 30-30 rifle to fire arm hunting." it will get the job done just fine, but is lacking in respect.