Twist is not the big issue it may seem to be unless you want to shoot a very long (heavy) bullet. Then you should ask before investing in bullets. Your rifle will handle up to 200 grain ordinary (not VLD) bullets just fine.
If you are plinking, a light bullet like a 150 soft point is cheap and accurate. Soft points are more accurate than full metal jackets (FMJ) but might cost slightly more.
If you are hunting, 180gr soft point is good for the deer/moose hunts. It is a good idea to have just one hunting load.
The Rem 788 is a superb action for accuracy. It has a small cut out on the bottom for the magazine (single stack) so there is more bottom metal for bedding. The lock time is very fast, which is a bonus.
The only limitation in power is that the bolt has the locking lugs at the back (like a Lee Enfield). This means that the bolt steel compresses and a hot load will stretch the brass. This is an issue for target shooters who like to use two scoops of powder. If you stick to the loads in your book you will have no issues.