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I have a Remington 700 BDL (Bull Barrel) in 7-08 bought in the mid 80s. It sports a Elupod 8.5x20 Target scope. I can load 100gr Hornady to 3400 fps and get one hole three shot groups of Hornady 139BTSP or 140 Partiions, not in the spot the two loads but at the same height 4 inches apart. The 140 Partitons don't seem to stick together as well as they do in larger caliber. It still kills but the 139BTSP have a nice mushroom effect on those that I managed to recover. The Partitons sperate into 3 bits including just the copper, a piece of lead and a deformed base.
It is a very versatile caliber. I also have an Remington XP100 in 7-08. Besides being able to do 1.5 inch groups at 150 M it has shot some fine exotics!
For powder choice, Ken Water's Pet Loads has some excellent combinations. The 7-08 likes IMR4895 or even H4895. The best factory loads are Federal. I tested all sorts of different loading son customer and my own firearms. BTW, the magazine is not designed for 162 gr bullets. You have to seat them in and thus compress a reduced load. In the XP100, Ihad some very goos groups with 162 BTSP but the bullet was seated a few thou from the lands in the barrel. It would not fit in the 700 BDL.