In my experience, when getting close to the maximum load with any particular cartridge, the velocity gains will drop off. Often therefore it is prudent to stop a little shy of maximum.
I do not have any loading experience with the Lott - I prefer bottle neck cases in bolt guns - but I think that you will find 2800 - 2850 fps will be near your maximum.
If you are going to the lighter bullet for flatter trajectory on medium game it should do well, but if you are looking for reduced recoil I think you'll be disappointed. Due to the increased powder load with the lighter bullet, the recoil will be similar to a heavy bullet load. In loading my .375 Ultra, a 260 gr bullet @ 2850 and a 380 gr bullet @ 2300 I found have similar recoil.