As Andy implied, most military Mausers have a long throat to accommodate the 175-grain roundnose. This bullet should always work well in these rifles, even if velocities are not lightning fast by today's standards. These days, this is the only bullet I use in my Mauser (and I'm not particularly concerned about long range potential or velocity because I can use one of my hot-loaded .30-06s or .300 Win Mags if I need speed and power).
In my Brazilian 98 carbine, I push a stout charge of WC 852, which is similar or identical to the old H450, behind a 175 grain Hornady Roundnose, ignited by a magnum primer. This load really maximizes the power potential of this old cartridge and it breaks 2,400 feet per second out of my short barrel. I'm confident it would approach 2,550 out of a 24-inch barrel. You can't buy WC852 powder anymore, but it is in the same ballpark as H4831, Reloder 22, N560, etc. Your best option would be to try one of those powders with that bullet and do really well, in my opinion.
Another load that seems to work well is a 140-grain bullet pushed by a stout charge of IMR 4350. As others have said, this load is accurate and versatile. Ballistically, it seems similar to a .30-06 pushing a 165-grain bullet, which is near ideal, in my opinion.
These are classic loads, and there are many others for this cartridge.