I think the model 7 in 7-08 is the greatest thing since bottled beer. H4895 is my preferred powder and bullets in the 139-145 range. This past fall, however, I killed a couple of deer using 150gr RN bullets while hunting around here. (WV 200yards or less) and they will definitely slap a deer down.
Although some folks swear by them for elk hunting, I don't but that is conjecture on my part as I have never been elk hunting with a 7-08. For everything else, except the great bears of course, it is a perfect rifle. The only down side to owning a M-7 in 7-08 is you have little need to buy another rifle. :lol: