The real test is to start at the bottom and work up. Check each step up for signs of excessive pressure (flat primers being the first big red flag). You can load up bit by bit until you hit signs of excess pressure. At that point, back off. Depends on the gun really.

I think that the 7-08 is a PERFECT caliber for the reloader. There are only two offerings (one a 120 and one a 150) other than the 140grain bullets in factory loads (note: I am counting those 139's as 140 grainers).

I load Barnes Triple Shock X Bullets in both 140 and 120gr varieties. I haven't gotten to load up to max yet, just because its the middle of the hunting season and the 43gr of Win 760 with the 140grs are shooting 1/2" groups at 100 yards. Why mess with success? I'll get to play with it in February.

I have had excellent luck with Win 760, Varget, and IMR 4064.

With regards to reloading being cheaper, if you have access to all of that equipment, yes, it will produce some savings. But more importantly, you can load a MUCH greater variety of bullets than are offered from the factory. That you really can't put a price tag on.