The 7mm08 is one of four similar cartridges. The 30-06, .270, and 308 are all close to it ballistically.
Of that group, the 7mm08 is the lightest kicking of them. I have a rifle in the 7mm08 caliber, and it is more than capable of taking almost all game animals in North America. The only animal I definately would not go after with this caliber is a grizzly bear. I would not be confident in the gun if things went bad.